What does the global increase of pork mean for the Meat Industry?
China is the biggest producer and consumer of pork globally. China is experiencing a killer African swine flu that has taken hold of the countrys pig farms. This will have significant affects on the global price for pork.
China is importing pork at a record high this year from the U.S. with the outlook of bolstering a trade war between the two superpowers.
It's said that imports may rise 300,000 metric tonnes of pork this year, which will be 81% more than 2017 before the trade war began.
What is the trade war between China and America?
The trade war between China and U.S. has see shifting trends in purchasing of imports from either countries. With Tariff target shifting in China pushing the U.S. away from importing those goods e.g Furniture, car tyres and refrigerators. Trump decided to push tariffs up to 10- 25% for about $250 Billion of Chinese goods.
China’s agricultural minister said that the African swine flu was under “effective control” and the number of cases were slowing down. Yet it is agreed that beijing may be under reporting the severity of the situation in an attempt to maintain their position in the trade war with the U.S.
As China consumer 28% of the worlds meat and 49% of that being pork.This disease could have a higher effect then speculated. This is because pork is the staple meat in China thus losing it could see the global price of all meats increase.