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China's beef farmers seek investigation into imports as prices hit 11-year low

share-iconPublished: Monday, December 30 share-iconUpdated: Monday, December 30 comment-icon1 year ago
News sources:
SCMP
China's beef farmers seek investigation into imports as prices hit 11-year low

Credited from: SCMP

  • China's beef farmers are pressing for an investigation into the influx of imported beef that they claim disrupts domestic markets.
  • The average wholesale price of beef has fallen to 59.8 yuan per kilogram, marking a 16.4% decrease year-on-year.
  • A official probe was initiated after multiple industry groups urged for measures to secure domestic agriculture.
  • Statistics reveal farmers have incurred average losses exceeding 1,600 yuan per slaughtered cow, with a majority facing continuous deficits.
  • In response to complaints from ten industry associations, the Ministry of Commerce will investigate the beef import situation, anticipating an eight-month period.

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Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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