Reports from China indicate that the economy has managed to rebound much more quickly than some expected after the government dropped its COVID Zero policy. Bloomberg reported that box office figures in January were higher than during last year’s holiday as well as above 2019 levels. Restaurant revenue during the festival period was also reported to be up 25% than the previous year.
Will China see a similar uptick in meat protein demand as what we saw in the US and other developed countries? Drawing such parallels is always fraught because of differences in the response to COVID and structure of the economy. The US lived with COVID restrictions for more than a year but we also did not experience the draconian measures that China implemented to keep COVID at bay.
With spring around the corner, however, and Chinese consumers once again be free to move around and spend, it is fair to speculate that Chinese meat demand should see a notable improvement.
Source: Daily Livestock Report - Steiner Consulting Group
