VCN – The turnover of imported meat and China’s import of meat has increased sharply, of which, pork saw the highest import growth rate.
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The Asia-Africa Market Department (Ministry of Industry and Trade) has provided some information on price fluctuations and the demand of some food products in the Chinese market.
Accordingly, in May, turnover of imported meat and China’s import of meat increased sharply. Data published by the General Department of Customs of China showed that China imported 556,300 tons of meat and by-products, increasing about 45% compared to the same period in 2018. Of which, pork achieved highest import growth (63%) with 187,500 tons.
In addition, imported lamb increased 53%, reaching 42,000 tons; beef imports increased by 41% reaching 123,700 tons; Chicken imports increased by 26%, reaching 63,400 tons.
The main reason for China increasing pork imports is that African swine fever has caused China's pig production to decrease rapidly in recent months.
In the context of the US-China trade war, China put 62% import duty tax on American pork. Therefore, in order to meet domestic demand, China has increased its buying of pork from Europe and Brazil.
In terms of prices, the current market average price is 24.71 yuan/kg (equal to 85,000 VND/kg), up 26.6% over the same period last year. In June, the pork price was 21.55 yuan/kg (equal to 74,000/kg), up 12% over the same period in 2018.
The price of live pigs in the fourth quarter of 2019 may exceed the historical high in 2016.
Until 2020, due to limited supply, pork prices will likely remain high.
The Department of Asian-African Market said in May and June, prices of some food items such as fruits (bananas, melons) and eggs in the Chinese market also increased.
Specifically, in May, for fruit products, the average wholesale price of six fruits, including pear, Fuji apple, Kyoho grape, banana, pineapple and watermelon was 7.55 yuan/kg (equal to VND 26,000/kg), up 19.5% compared to the previous month.
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Egg prices rose slightly in the two months. The average monthly price in the market was 9.95 yuan/kg (equal to 35,000 VND/kg), increasing by 9.1% compared to the previous year.
By Thanh Nguyen/ Phương Thao