Trade war with US unlikely to impact China’s pork supply: Chinese Ministry

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Trade war with US unlikely to impact China’s pork supply: Chinese Ministry

On Friday, the 30th of August 2019, a Chinese state-controlled television news reported that Beijing’s escalated trade dispute with the United States would not impact the Central Asian nation’s pork supply citing a top official of the Chinese Ministry of Agriculture.

In point of fact, latest comment from Chinese Ministry of Agriculture came into being a day before China’s 10 percent tariff hike on US exports was set to kick off. Nonetheless, over the recent months, pork prices were uplifted by a substantial margin in the largest pork market in the world, China, following a breakout of a deadly African Swine Fever wiping out more than fifty percent of the nation’s hog herd.

Meanwhile, since China had leaned towards Brazil for its Soy supplies to keep its pork meat industry up-and-running followed by Trump’s tariff hike last year on October, and pork imports from the United States were accountable for less than 0.2 per cent of Chinese output, a yearlong trade dispute with Washington would unlikely to have major impacts on pork supplies alongside pork prices in China, the largest consumer of pork meat across the globe with per capital consumption of 39.6 kilograms of pork per annum.

On the flipside, referring to a dwindling pig meat market in China amid a major outbreak of African Swine Fever, a NY-based multinational American broker and consultancy, FCStone had been quoted saying on Friday (August 30th) following an upbeat commentary of Chinese Ministry of agriculture that the pork output of China, the world’s largest pork consumer and hog producer, would likely to fall by roughly 30 percent to 38 million tons this year from a prior output figure of 54.04 million tons of pork a year earlier.