Agriculture & Food

On June 7, 2021, China Customs announced the "National Imported Key Commodities Volume Value Table for May 2021".

It is worth noting that in May 2021, meat imports fell again from the previous month, and the decline expanded to (-14.24%), which directly triggered the first year-on-year decline in monthly meat imports since 2021 (-3.78%).

Many small partners in the industry may be panicked when seeing this decline. Is it possible that the import meat market is going downhill?

But the editor said, not necessarily!

First of all, the month-on-month decline after the Spring Festival has been a trend over the years, and the market has entered a period of adjustment.

If the one-month year-on-year decline data still does not explain the problem, then expand the data to the three months from March to May after the Spring Festival. It is not difficult to find out that imports from March to May 2021 and the same period in 2020 The data curve is surprisingly similar, almost a replica. It can be said that consumption is in the off-season after the Spring Festival, and the market decline is also expected. Importers are slowly hoarding goods before the holiday, and there must be a period of "cooling-off period" for their efforts after the holiday.

Secondly, judging from the single-month data, compared with March, April also fell, but even if it fell, the volume was still higher than the same period last year, but unexpectedly, the decline in May was more obvious, resulting in single-month data It's not as good as the same period last year, and the gap is actually relatively small.

Finally, looking at the cumulative import volume in the first five months of this year, we can find that meat import volume is still about 12.6% ahead of the same period in 2020. This is already very good data in the context of the substantial recovery of domestic pig production capacity.

Looking back at the monthly import volume in 2020, it is not a triumphant advance.

Import data, ups and downs, is a normal thing, compared to May, the next few months will be more worthy of closure.