China's meat imports drop again in March
China imported 594,000 tonnes of meat in March, down 42% from last year’s record. Its meat imports during the first three months this year at 1.7 million tonnes fell 37% from the same period last year. The preliminary data doesn’t give specifics of meat imports by category, but the sharp drop was driven by a significant decline in pork arrivals as domestic pork production has surged as the country aggressively rebuilt its herd after the African swine fever outbreak.
Nevertheless, the trend is not going to change for the following months, as lockdowns and stalls in several Chinese ports are disrupting the trade. According to Bloomberg, Maersk, the world's largest shipping company, has stopped new bookings for refrigerated cargoes to Shanghai due to a lockdown dictated by the local authorities and the context is going to impact the activity in all South China’s ports. Shanghai is also the main point of entry for Brazilian meat imports to mainland China, which is expected to have a serious impact on Brazilian meat exports. According to some sources quoted by Reuters, at least one shipping line operator has stopped sending Brazilian meat to Shanghai instead offering clients the alternative of sending cargos to Xingang and Ningbo. One big Brazilian meat exporter canceled the shipment of three containers, while another stopped booking new cargo. This may lead to a larger decline in China's meat imports for April.
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