Charts of the Day: China’s Growing Meat Consumption
China’s dinner tables will be getting meatier over the next decade, which will have a significant impact on the international agriculture trade, according to an outlook report published by Organization for Economic Cooperation and Development and the U.N.’s Food and Agriculture Organization.
In 2026, an average Chinese citizen is expected to consume 55 kilograms (121 pounds) of meat per year, up 10% from 2017. Pork will remain Chinese people’s favorite meat in the years to come, making up about 60% of all meat consumption, followed by poultry, beef and veal, and mutton and lamb, according to the report.
The country’s insatiable appetite for pork has made it heavily dependent on imports of soybeans, a key feed for China’s swine. The oilseed, also used to make cooking oil and products like tofu and soy sauce, has found itself on the front line of the escalating trade dispute between the world’s two largest economies as it is one of the few areas where the U.S. runs a trade surplus — China accounted for 60% of its total soybean exports in the 2016-17 crop year, according to the U.S. Department of Agriculture.
China’s Feed Industry Association has been considering the establishment of minimum levels of proteins for animal feeds. The draft guidelines (link in Chinese) came amid rising concerns that China might not be able to counter a decline in U.S. exports from alternative import sources.
After Beijing hit American soybean producers with a 25% import levy on July as part of the tit-for-tat tariff, China has mostly been turning to Brazil for additional imports. But as Brazil approaches the end of its season and Argentina’s crop has been devastated by drought, analysts are pessimistic that they will be able to boost shipments.
Contact reporter Charlotte Yang (email@example.com)
Mar 23 18:10
Mar 22 19:22
Mar 22 18:30
Mar 22 18:32
Mar 22 17:54
Mar 22 15:06
Mar 22 12:45
Mar 22 00:02
Mar 21 17:12
Mar 21 17:16
Mar 21 16:52
Mar 21 15:49
Mar 20 19:25
Mar 20 18:20
Mar 20 17:07
- 1HNA’s Latest Asset Sale Attracts U.S., Indian Bidders: Source
- 2Popular WeChat Account Valued at 2 Billion Yuan Snapped Up By Education Firm
- 3Update: It’s Banks’ Turn for the Hot Seat of Supply-Side Reform
- 4Analysts Butt Heads Over Outlook of China’s Surging Stock Market
- 5Shandong Industrial Debt Crisis Claims Two More Companies
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas