Friday, July 20, 2018

US pork exports to China/Hong Kong down 31%

From Asian AgriBiz:
Volume of US pork exports the China/Hong Kong market dropped 31% in May 2018, due in part to the additional 25% tariff imposed by China in April, a report by the US Meat Export Federation (Usmef) said. Exports only reached 34,191 tonnes for the month, down from 49,334 tonnes the previous year.

Value for the period also fell 25% to USD 79.9 million. For the first five months this year, US pork exports to the region has reached 187,439 tonnes worth USD 436.4 million, down 18% and 6%, respectively year-on-year. Exports to China face an even bigger challenge in H2 2018, as China has hiked the tariff on US pork another 25%, meaning US pork cuts and pork variety meats now face a 62% duty, compared to 12% from China’s other suppliers like the EU, Brazil and Canada.
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