Locked out of China, U.S. pork producers search for new buyers
CHICAGO - U.S. 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.
By comparison, total U.S. soybean exports dropped 13.7% by volume and 19.2% by value during the same period, while total sorghum exports dropped 72.8% by volume and 73.6% by value, according to the USDA. As China and Mexico reduced their purchases last year, a subsequent drop in U.S. pork prices helped encourage alternative buyers to ramp up purchases - particularly from smaller markets that had trade agreements with the United States, such as Colombia and South Korea.
U.S. pork sales to China and Hong Kong sank about 30% by volume and value to about 326,726 metric tons and $737 million in the 12 months ending in April, after Beijing increased its tariff to 62% from 12% last year. FILE PHOTO: Young pigs feed in a pen at a hog farm in Ryan, Iowa, U.S., May 18, 2019. REUTERS/Ben Brewer/File PhotoMeyer and other hog farmers like him have trekked across the globe on trade missions seeking new buyers for U.S. pork. He visited Colombia in 2015 and Peru in 2017, efforts that are now showing results, Meyer said.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
'Safe like China': In Argentina, ZTE finds eager buyer for surveillance techIn Argentina's remote northern province of Jujuy, Chinese telecoms giant ZTE is installing a little slice of the Asian nation's vast surveillance state - security cameras that the local government says will help to curb street crime
Baca lebih lajut »
Erdogan says Xinjiang camps shouldn't spoil Turkey-China relationshipTurkish President Recep Tayyip Erdogan says Xinjiang camps shouldn't spoil Turkey-China relationship
Baca lebih lajut »
The trade war is over — and the winner is China, writes Howard GoldTrump-Xi agreement shows the president won’t go to the wall to fundamentally change the U.S.’s trade relationship with the world’s second-biggest economy,...
Baca lebih lajut »
China says existing US tariffs must be removed for a trade dealThe leaders of the two countries agreed last weekend to relaunch trade talks that had stalled in May after the US accused China of reneging on its commitments.
Baca lebih lajut »
GM's China April-June sales fall 12%, fourth straight quarterly dropGeneral Motors Co's second-quarter vehicle sales in China fell 12.2%, as th...
Baca lebih lajut »
GM's China sales decline for fourth straight quarter amid economy woesGeneral Motors Co's second-quarter vehicle sales in China fell 12.2%, as th...
Baca lebih lajut »