China Investigates Beef Imports as Oversupply Squeezes Prices

China will launch an investigation into beef imports, the commerce ministry said on Friday, as the world's biggest meat importer and consumer grapples with an oversupplied market that has sent domestic prices to multi-year lows.

Any trade measures to try to reduce beef imports would hit China's largest suppliers, Brazil, Argentina and Australia.

China's total beef imports reached $14.2 billion in 2023, surging from $8.2 billion in 2019, customs data show. Brazil accounted for 42% of the total trade value, followed by Argentina at 15% and Australia at 12%.

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