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China Launches Probe Into Beef Imports as Local Farmers Struggle

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China Launches Probe Into Beef Imports as Local Farmers Struggle

(Bloomberg) — China has started a probe into beef imports, to decide if a surge in shipments from overseas has hurt the domestic sector, the Ministry of Commerce said Friday.

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The investigation, launched at the request of domestic industry associations, would usually end within eight months, but may be extended under special circumstances, according to a statement on the ministry’s website.

China’s beef producers are struggling with huge losses after local prices plunged to multi-year year lows due to oversupply and sluggish consumption.

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