Pork is the most widely consumed meat in the world, and China, as the largest consumer and producer, is the primary reason why pork has earned its status as the world’s favorite protein. That's why the ongoing battle with African swine fever in the Chinese hog herd poses some serious market implications for global agriculture.
Some context on the China situation illustrates what is at stake. China consumes about 56 billion pounds of pork per year, more than half of total global consumption. Likewise, the Chinese hog herd numbers more than 440 million head, which is nearly three times larger than all of Europe and almost six times larger than the U.S., the second largest pork-producing nation.
Consider U.S. soybean exports to China, currently hampered by retaliatory tariffs resulting from the U.S.-China trade dispute. Shipments to China won’t fully recover even once the tariffs are lifted owing to the dramatic reduction in China’s swine herd. ASF in China will affect the bottom-line of U.S. soybean growers.
Dan Kovich, DVM and the director of science and technology for the National Pork Producers Council, said his organization is coordinating containment efforts with its counterparts in Canada and Mexico to prevent the spread of AFS to North America. The U.S.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Forbes - 🏆 394. / 53 Read more »
Source: CNBC - 🏆 12. / 72 Read more »