16 Jun 2024
EU pork industry faces ‘nightmare’ if China restricts imports
Read full article
HAMBURG/LLEIDA, June 14 (Reuters) – Europe’s pork industry faces a “nightmare scenario” of lower prices and falling profitability if China restricts imports from the region, industry executives and analysts said on Friday.
Chinese firms have asked for an anti-dumping probe into pork imports from the European Union, state-backed Chinese media reported on Friday, escalating tensions after the bloc imposed anti-subsidy duties on Chinese-made electric vehicles.
See also:
-
China firms seek anti-dumping probe of EU pork imports, ramping up tensions
-
NZ report on China market examines when demand may improve
-
China lifts suspension on Australian meat processors
China imported $6 billion worth of pork, including offal, in 2023 and more than half came from the EU, Chinese customs data showed.
Ending those orders would result in a huge loss of business for Europe’s meat industry.
“The full suspension of EU pork exports to China would be a potential nightmare scenario for the pork supply chain, with implications across the EU,” said Justin Sherrard, global strategist animal protein at Rabobank.
Michael Hogan and Belén Carreño | Reuters
Read full article Share on twitter