Pork markets to become a big winner in the US-China trade truce - News Summed Up

Pork markets to become a big winner in the US-China trade truce


The latest USDA report shows that 26.5% of US pork exports went to China in November 2019, making it the largest foreign destination for US pork that month. In August 2019, Chinese companies bought over 10,000 tonnes of US pork even after Beijing suspended all other purchases of American agricultural products. In late December, China dropped tariffs for US pork days after releasing 40,000 tonnes of pork from its emergency reserves. The USDA report also shows that Chinese pork was significantly more expensive than US pork after the swine fever outbreak. According to USDA, the price gap could open up huge opportunities for the pig farming industry in the United States.


Source: CNN January 18, 2020 20:03 UTC



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