China Is On The Verge Of A Meat Crisis
China has almost run out of frozen pork. The cost of meat for consumers in the country increased by more than 50% in August 2020 compared to the previous year, the FT writes.
London-based consulting company Enodo Economics notes that pork stocks in China fell by about 452 thousand tons in the period from September last year to August this year.
Enodo chief economist Diana Choylevaya believes that the Chinese authorities have less than 100 thousand tons of pork in their reserves.
Stocks at this rate of consumption will disappear in two to three months. The country will be on the verge of a meat crisis, experts predict.
China began importing record volumes of meat in 2020 due to a shortage of meat. Purchases in the US in July amounted to 430 thousand tons.
China is the world's largest meat consumer.
The average annual demand for pork in China over the past five years was about 50 million tons.
The shortage of meat is caused by the ban that Beijing imposed on the purchase of pork in Germany. A case of ASF (African swine fever) has been reported in a European country.