World meat industry news

All news / China has increased imports of fresh beef from Russia by one and a half times over the past year

  • 07 Feb 2024, 11:12

Last year, China increased purchases of fresh or chilled beef from Russia in monetary terms by one and a half times - from 3.95 to 6.1 million dollars. Interfax reports this with reference to data from the Chinese State Customs Administration (GTU of the PRC).China has increased imports of fresh beef from Russia by one and a half times over the past year

The Center for Industry Expertise of Rosselkhozbank, which the news agency also refers to, provided more precise figures - 41 thousand tons. Next year the organization predicts an increase to 45 thousand. At the same time, the cost of purchasing frozen beef, according to the State Technical University of China, on the contrary, fell from 142.9 to 104.9 million dollars. The organizations did not specify how much of it was purchased in natural weight. However, it is noted that China is the largest importer of this meat from our country.

In addition, the Federal Center for the Development of Exports of Agricultural Products (Agroexport, owned by the Ministry of Agriculture) cited the words of the head of the National Meat Association (NMA) Sergei Yushin, who predicted that in the coming years China will “set the tone” in the global beef market. The expert clarified that so far the consumption of this meat in the country is low (about seven kilograms per person per year, which, for example, is half as much as in Russia). However, thanks to a change in consumption patterns, he predicts an increase in the share of this product in the Chinese diet. This, according to Yushin, provides great prospects for promoting Russian meat and cattle by-products on the Chinese market.

The expert also named several factors that stimulated Russia’s increase in beef exports in general. One of them was the weakening of the ruble exchange rate compared to 2022, when a strong currency reduced the competitiveness of this and other meat from our country. Others include expanding the geography of supplies of Russian beef, making foreign buyers more familiar with it (for example, not only in China, but also in the Middle East), as well as successful marketing. At the same time, Yushin added that next year it is planned to increase Russia’s supplies of this meat abroad.