China’s pork probe is yet another blow for struggling EU farmers

Published 2024년 6월 21일

Tridge summary

China has initiated an investigation into pork imports from the European Union, which could lead to tariffs, threatening the already struggling EU pork industry. This probe is part of a broader trade dispute that includes Chinese electric vehicles and European brandy. The EU, which is already facing declining pork exports due to Chinese self-sufficiency and its own disease outbreaks, could see its suppliers shifted to the US and Brazil if tariffs are imposed. The outcome of the investigation is uncertain, but it has already sparked concerns about increased prices and potential withdrawal of Chinese customs clearance for EU pork products, which could impact farmers and processors.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

(June 21): The threat of China slapping tariffs on the European Union’s (EU) pork is the last thing the continent’s beleaguered industry needs. China, the world’s biggest pork consumer, this week announced a probe on imports from the EU that could result in tariffs as part of a trade tit-for-tat. The bloc’s top exporters of the meat — like Spain and Denmark — warn that any levies will further hit overseas sales that have been falling for several years, hurting the entire supply chain from farmers to processors. The EU is already losing its crown as the No 1 pork exporter. After benefitting from demand in China when African swine fever ravaged herds, European shipments have struggled as Chinese output rebounded and the bloc had its own outbreaks of the disease. Farmers’ profits have also been squeezed by higher feed and energy costs and consumers eating less pork, prompting processors to cut jobs, close slaughterhouses and target more local markets. The pork probe is the latest ...

Source: Theedgemarkets