💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

China June pork imports jump 128.4% on year: customs

Published 07/23/2020, 03:51 AM
Updated 07/23/2020, 03:55 AM
© Reuters.

BEIJING (Reuters) - China imported 400,000 tonnes of pork in June, customs data showed on Thursday, up 128.4% from the same month a year earlier, as a months-long buying spree continued as importers try to help plug a domestic shortage.

China's pork output declined by about a fifth in the first half of 2020 after an epidemic of African swine fever killed millions of pigs in the country last year.

The imports mark the fourth straight month of pork shipments of around 400,000 tonnes, double the volume of earlier records.

January to June pork imports were up 142.7% at 2.12 million tonnes.

Imports of pork including offal in June came to 540,000 tonnes, up 102.5% from a year earlier, bringing total imports for this year to end-June to 2.82 million tonnes, the data also showed.

Customs had earlier this month highlighted the huge meat imports in June.

Intake is expected to fall in coming months, however, after China started testing containers of frozen food for the presence of the coronavirus, slowing the trade.

China has also suspended imports from dozens of overseas suppliers after coronavirus outbreaks among workers.

Beef imports including offal in June were 180,000 tonnes, up 31.2% from a year earlier, said customs, with shipments for first-half 2020 reaching 1.01 million tonnes. Offal made up only a fraction of the combined imports.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.