Global pork exports set to plunge with China taking in 39% less
by Bloomberg Jul 12, 2022
Chinese farmers are churning out so much pork this year that it’s shaking up world markets for the meat.
Because the Asian nation’s hog farmers are more productive this year, the country will likely import 39% less pork while Hong Kong purchases 21% less, the US Department of Agriculture said Tuesday in a quarterly report. China is the world’s biggest importer of the meat, and the decrease in buying points to an “increasingly grim” outlook for farmers in the rest of the world.
“The sharp plunge in China demand leaves major exporters such as the EU, Brazil, and US searching for markets to offset diminished trade,” the report said.
The shifting trade could ultimately lead to lower consumer prices in a relief from the worst food inflation in decades.
Bloomberg
© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).
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