China asks suppliers to delay meat delivery
Securing quick access for meat in China mainland is still wishful thinking for both importers and suppliers. Due to the coronavirus blockade, logistic capacity in ports is overwhelmed, reefer containers' plugs of ports are insufficient and cargo ships are unable to be docked at ports agreed before. Besides that, even in South Korea the reefer containers' plugs of Busan port were also becoming saturated adding more pressure for the supply chain in China.
"Based on this situation, currently, Chinese import enterprises and foreign plants have discussed delaying delivery of orders that have already been concluded", reports B2B platform Beef To China.
The market bears the weight of the current condition in the Chinese food supply chain, with prices reacting differently. The latest Ministry of Agriculture fixed-point monitoring of 500 bazaar markets nationwide shows that pork prices have increased, beef is staying flat, as lots of containers are still crowded in the ports, and poultry is taken a dive due to oversupply resulted in massive slaughtering in several regions during the blockade.
The average prices of pork were 59.64 yuan ($8.50)/kg, up 164.5% year-on-year. White strip chicken had an average price of 22.97 yuan ($3.25) / kg, up by 13.2% compared to February 2019. Average prices for beef and mutton were 85.70 yuan ($12.20) /kg and 82.46 yuan ($11.70) /kg, respectively, showing an increase of 22.9% and 16.8% year-on-year.
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