China's meat imports dropped 33%
During the first two months of 2022, China has reduced the need for meat imports by 33%. 1.07 million tons of meat have entered China in the first two months of the year, compared with 1.6 million tons brought in the same months a year ago.
The main reduction in volumes was seen in pork.
Within the last 12 months, China's pig inventory advanced faster than expected and large liquidation in farms has increased domestic pork production. China's sow herd stood at 42.9 million heads at the end of January, up 2% from the previous year, according to official data. Also, in 2022 China may reach a 100% self-sufficiency rate in pig meat.
A decline in meat imports has been reported since July last year, although this is the largest drop reported so far. At the end of 2021, Beijing authorities decided to impose new tariffs for pork imports, as the country's need for imports has declined. However, analysts expect an increase in beef imports for this year, with a total volume estimated at 2 million tons.