China is influencing the beef trimming market
China has become the world's largest beef importer and is setting new trends in the global market as diets and food service change, according to Angus Gidley-Baird, Senior Analyst - Animal Protein, Rabobank.
"Many of the cuts imported by China have been to satisfy the local cuisine. But as diets and food service change, this now includes a growing trend in trimmings trade.The growing demand for trimmings from Asian countries will create additional competition for the US but it is not expected to shift the market yet", noted Gidley-Baird in his quarterly report.
Possible changes in the trade are expected and suppliers of trimmings must be aware of that.
"While steady growth is evident in the Chinese market to date, a short-term demand increase across all proteins as a result of African Swine Fever will likely cause a spike in demand for trimmings", he added.
For now, Chinese retail beef prices have remained strong. Although the prices dropped a little from the record high seen in February, they remain above RMB 68/kg ($9.84), the highest price for this season historically.
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