China's Pork Market Seen to Remain Positive in 2nd Quarter 2004
CHINA - China's live hog inventory rose marginally during the first quarter of 2004, while slaughtered hogs and the production of pork showed an upward trend. On the whole, the development of China's pork market remained positive during the quarter.
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In the first two months of 2004, China's export of pork products including fresh frozen pork, processed pork, hog entrails and live hogs hit 42,900 tons, while the export turnover reached US$101 million. These figures represent a year-on-year increase of 13.87% and 22.74% respectively. Further breakdown of the export figures show that export volume of fresh frozen pork made up 62.97% of the total export of pork product s and constituted 38.86% of the total export turnover.
A total of 43,600 tons of pork products worth US$31.2788 million was imported to China during the first two months of 2004, representing a year-on-year increase of 2.35% and 11.81% respectively. The import volume of fresh frozen pork made up 53.83% of the total import volume of pork products, while the turnover was 50.24% of the total import turnover of pork products.
From January to February 2004, China's import volume of pork products surpassed the export volume. However, the export turnover was higher than the import expenditure.
During the first two months of 2004, China imported a total of 23,500 tons of fresh frozen pork, registering a remarkable year-on-year increase of 140%. The USA, Denmark and Canada are the largest suppliers of pork to China. During the first two months of 2004, 99.90% of China's imported pork, or 23,400 tons, come from these three countries. China's import of pork from these three countries registered a year-on-year increase of 184%, 390% and 3.93% respectively.
Source: eFeedLink - 14th May 2004
