Shanghai beef imports increase

Shanghai imported 394,000 metric tons of beef during the first five months of this year, up 51.8 percent on a yearly basis, Customs data showed. Imports rose 72.9 percent on a yearly basis in value terms to 15.55 billion yuan ($2.2 billion), while the average beef import prices rose by 13.9 percent year-on-year to 39.4 yuan per kg. Brazil, Argentina and Australia were the top three sources of beef imports in Shanghai.