China: Beef Market Overview 2021

Beef Market Size in China

In 2020, the Chinese beef market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, the total consumption indicated prominent growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2018 indices. The pace of growth appeared the most rapid in 2015 when the market value increased by X% against the previous year. Beef consumption peaked in 2020 and is likely to see gradual growth in years to come.

Beef Production in China

In value terms, beef production rose rapidly to $X in 2020 estimated in export prices. In general, production recorded a buoyant expansion. The pace of growth appeared the most rapid in 2015 with an increase of X% y-o-y. Over the period under review, production attained the maximum level in 2020 and is likely to see gradual growth in the near future.

In 2020, the average beef yield in China was estimated at X kg per head, remaining stable against the previous year. Over the period under review, the yield showed a relatively flat trend pattern. The growth pace was the most rapid in 2009 when the yield increased by X% against the previous year. Over the period under review, the average beef yield hit record highs at X kg per head in 2014; however, from 2015 to 2020, the yield failed to regain the momentum.

In 2020, the number of animals slaughtered for beef production in China was estimated at X heads, approximately reflecting 2019. Over the period under review, the number of producing animals continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the number of producing animals increased by X% against the previous year. Over the period under review, this number reached the peak level in 2020 and is likely to continue growth in years to come.

Beef Exports

Exports from China

For the fourth year in a row, China recorded decline in shipments abroad of beef (cattle meat), which decreased by -X% to X tonnes in 2020. Over the period under review, exports faced a dramatic curtailment. The pace of growth was the most pronounced in 2016 with an increase of X% year-to-year. Exports peaked at X tonnes in 2007; however, from 2008 to 2020, exports stood at a somewhat lower figure.

In value terms, beef exports reduced rapidly to $X in 2020. In general, exports faced a dramatic slump. The growth pace was the most rapid in 2016 with an increase of X% year-to-year. Over the period under review, exports hit record highs at $X in 2008; however, from 2009 to 2020, exports remained at a lower figure.

Exports by Country

Australia (X tonnes), Ireland (X tonnes) and Hong Kong SAR (X tonnes) were the main destinations of beef exports from China, with a combined X% share of total exports. These countries were followed by Italy and Panama, which together accounted for a further X 2007 to 2020, the biggest increases were in Panama, while shipments for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), Hong Kong SAR ($X) and Ireland ($X) appeared to be the largest markets for beef exported from China worldwide, with a combined X% share of total exports. These countries were followed by Italy and Panama, which together accounted for a further X the main countries of destination, Panama recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average beef export price amounted to $X per tonne, growing by X% against the previous year. In general, the export price saw resilient growth. The pace of growth appeared the most rapid in 2015 an increase of X% y-o-y. Over the period under review, average export prices reached the peak figure in 2020 and is likely to see steady growth in years to come.

Prices varied noticeably by the country of destination; the country with the highest price was Hong Kong SAR ($X per tonne), while the average price for exports to Ireland ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR, while the prices for the other major destinations experienced more modest paces of growth.

Beef Imports

Imports into China

In 2020, beef imports into China surged to X tonnes, growing by X% on the previous year's figure. Overall, imports recorded buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, beef imports skyrocketed to $X in 2020. Over the period under review, imports continue to indicate a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil (X tonnes), Argentina (X tonnes) and Australia (X tonnes) were the main suppliers of beef imports to China, together accounting for X% of total imports.

From 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Argentina (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constituted the largest supplier of beef to China, comprising X% of total imports. The second position in the ranking was occupied by Argentina ($X), with a X% share of total imports. It was followed by Australia, with a X% share.

From 2007 to 2020, the average annual growth rate of value from Brazil amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+X% per year) and Australia (+X% per year).

Import Prices by Country

In 2020, the average beef import price amounted to $X per tonne, growing by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average import price increased by X% y-o-y. As a result, import price reached the peak level of $X per tonne. From 2016 to 2020, the growth in terms of the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Australia ($X per tonne), while the price for Uruguay ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by New Zealand, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for beef (cattle meat) in the world?

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The countries with the highest volumes of beef consumption in 2020 were China (15M tonnes), the U.S. (13M tonnes) and Brazil (8.9M tonnes), with a combined 46% share of global consumption. These countries were followed by Argentina, Pakistan, Russia, Mexico, Australia, India and France, which together accounted for a further 17%.

What are the largest producers of beef (cattle meat) in the world?

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The countries with the highest volumes of beef production in 2020 were China (13M tonnes), the U.S. (12M tonnes) and Brazil (10M tonnes), together accounting for 45% of global production. Argentina, India, Australia, Pakistan, Mexico, Russia, France and Canada lagged somewhat behind, together comprising a further 21%.

What are the leading suppliers of beef (cattle meat) to China?

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In value terms, Brazil ($4.2B) constituted the largest supplier of beef to China, comprising 41% of total imports. The second position in the ranking was occupied by Argentina ($2.1B), with a 20% share of total imports. It was followed by Australia, with a 15% share.

What are the leading importers of beef (cattle meat) from China?

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In value terms, the largest markets for beef exported from China were Australia ($255K), Hong Kong SAR ($240K) and Ireland ($136K), with a combined 83% share of total exports. Italy and Panama lagged somewhat behind, together accounting for a further 17%.

What is the average export price for beef (cattle meat) in China?

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The average beef export price stood at $7,837 per tonne in 2020, rising by 13% against the previous year.

What is the average import price for beef (cattle meat) in China?

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In 2020, the average beef import price amounted to $4,805 per tonne, rising by 3.6% against the previous year.