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Reuters: Locked out of China, US pork producers sniff out new buyers

05.07.2019 13:11 "Agro Perspectiva" (Kyiv) The US hog farmers lost hundreds of millions of dollars in export sales to China and Mexico after President Donald Trump launched his trade wars last year, Reuters says referring to the USDA report. As to the report, the US hog sector has largely offset those massive losses by having found new customers on smaller markets from Colombia to Vietnam. As of now, the American hog farmers pin their hopes for a trade deal on Trump and Chinese President Xi Jinping agreement at last week G20 summit to restart talks; so the US pork industry stands out for its success in avoiding the sharp sales reductions that have slammed other US farm sectors (such as soybeans and sorghum). It is to be admitted, upon whole, the US pork exports fell 3.9% by volume and 8.4% by value within May 2018 — Apr 2019 against last year similar (due to data compiled by the US Meat Export Federation). China boosted its tariff on US pork as of last year Apr and again as of this year Jul (when it imposed tariffs on soybeans). As to the report, US pork sales to China and Hong Kong sank about 30% by volume and value to about 326,726 metric tons and US$737 million within the 12 months ending this year Apr, after Beijing boosted its tariff to 62% from 12% last year. In meanwhile, the foreign replacement buyers on smaller markets — many of which already had relationships with US meat producers — quickly stepped in to snap up much of the US pork industry surplus. Thus, the US exports to Colombia, the Dominican Republic, Australia, Philippines, Vietnam and South Korea climbed by 24% by volume against last year similar — to over 530,000 metric tons — within the 12 months ending this year Apr.

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