China Beefs Up Meat Supply with British Options Ahead of U.S. Duties — Panjiva


China Beefs Up Meat Supply with British Options Ahead of U.S. Duties

Ags - Meat/Dairy 138 China 1760 Cons. Staples - Food/Beverages 397 U.S. 3301 United Kingdom 194

The Chinese government has lifted a 22 year ban on imports of beef from the U.K. As well as helping trade relations that’s a rational move as the government seeks to satisfy soaring demand. Chinese imports reached $3.6 billion in the 12 months to May 31 after soaring 45% in May to reach a new record. The diversification also makes sense given duties are about to be applied on American beef – which admittedly only accounted for 2% of supplies in the three months to February 28) – as part of a wide tariff-battle. British farmers will have to compete with current market leaders ...

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