The Chinese per capita GDP growth, although still growing, is in a slowdown stage. Therefore, we will not see such a significant change in the consumption habits of the Chinese population.
In addition, we also analyze that despite this Chinese GDP growth in recent years. The demand for pork continued to be very representative, and this is due to the cultural habits of the population.
That is, even if the per capita beef consumption growth pace continued at the same level as in the 2000s until 2020, when the population experienced greater consumption power, this would represent a global impact on meat consumption of only 3.6% in the next 5 years. Therefore, we do not believe that Chinese economic growth will be such a relevant factor in the demand for Brazilian beef.
