China launched an investigation in late December into its beef imports as the country deals with an oversupplied market that has led to low domestic prices, the commerce ministry said.
According to a Reuter’s report, the country’s beef imports totaled $14.2 billion in 2023, up from $8.2 billion in 2019. Brazil accounted for 42% of the trade value, followed by Argentina at 15% and Australia at 12%. The investigation will look into fresh beef, cold beef, head of beef and frozen beef imported between 2019 and June 2024, following a request by Chinese livestock industry groups. The groups said the increase in import volumes has “seriously damaged” the country’s domestic industry.
“Most beef cattle farms in China are in a loss-making situation,” the China Animal Husbandry Association said in a state media report. “The impact of a large amount of imported beef is undoubtedly adding insult to injury.”
