Source: General Administration of Customs' Website
According to the customs statistics, in January-October this year, China imported the pork of 348,000 tons, accounting for USD 490 million, so as to increase by 4.7 times and 5.7 times respectively as compared with those at the same period last year (similarly hereinafter).The average import price was USD 1.42/kg, up by 16.9%. Meanwhile, China exported the pork of 65,000 tons, drop by 43.9%. In January-October, China had the net import of the pork of 283,000 tons in total.
In October, China imported the pork of 2,2000 tons, accounting for USD 23.2 million and increasing by 81.3 % and 5.5 % respectively; the average import price thereof had already declined for three consecutive months. The monthly average price was USD 1.07/kg, drop by 41.8 % year on year and 6.9 % at the link relative ratio. The main features of the import are listed as below:
I. The ordinary trade is deemed as the major import mode. In January-October this year, China imported the pork of 340,000 tons via the ordinary trade mode, increasing by 4.6 times and accounting for 97.7% of China's pork import in total at the same period.
II. The private enterprises' import accounted for over 40%; also, the foreign invested enterprises' import was increased sharply. In January-October this year, China's private enterprises imported the pork of 162,000 tons, increasing by 2.7 times and accounting for 46.6% of China's pork import in total at the same period. The foreign invested enterprises imported the pork of 110,000 tons, increasing by 11.8 times and accounting for 31.6% thereof.
III. China mainly imported the pork from the USA and European Union. In January-October this year, China imported the pork of 171,000 tons from the USA, increasing by 8.2 times and the pork of 138,000 tons from the European Union, increasingly by 5.2 times. The import as per stated above accounted for 88.8% of China's pork import in total.
In order to stabilize the pork price in China and guarantee the market supply. COFCO Development Co., Ltd, the subsidiary of COFCO, had imported the pork from such countries as the USA for three times since this year. As of this August, the above import plan was completed. With the fulfillment of such policies as financial subsidy, circulation channel control and export control taken by the state at the beginning of the year to guarantee the pork supply, the pig price in China had been gradually lowed since the 2nd quarter. In September and October, the pork price was sharply declined with the decrease rate exceeding 15%. So far, the average pork price in China drops to RMB 6.65 per catty, which is close to the breeding cost. Thus, butcher in a small scale and the sow offered for sale is once again appeared. Due to the dramatically drop of the pork price in China, the supply is recovered, so as to also cause the fall of pork import.
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