Beef Market Overview in China
In value terms, beef production surged to $ in 2019 estimated in export prices. Over the period under review, production posted a resilient increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by % year-to-year. Over the period under review, production hit record highs in 2019 and is expected to retain growth in the immediate term.
In 2019, the average yield of beef (cattle meat) in China declined slightly to kg per head, dropping by -% on the previous year. Overall, the yield recorded a relatively flat trend pattern. The growth pace was the most rapid in 2009 when the yield increased by % against the previous year. The beef yield peaked at kg per head in 2014; however, from 2015 to 2019, the yield stood at a somewhat lower figure.
In 2019, the number of animals slaughtered for beef production in China amounted to heads, growing by % compared with 2018 figures. In general, the number of producing animals saw a relatively flat trend pattern. As a result, the number of producing animals reached the peak level and is likely to continue growth in the immediate term.
The revenue of the beef market in China rose rapidly to $ in 2019, growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2018 when the market value increased by % y-o-y. Over the period under review, the market reached the maximum level in 2019 and is likely to see steady growth in years to come.