Potential for U.S. pork exports to Japan to increase $281M by 2028

Published 2023년 5월 15일

Tridge summary

Researchers from the USDA Economic Research Service forecast a significant increase in Japan's pork imports, ranging from 3.6 to 13.9%, by 2028 due to trade agreements. This could result in an additional $281 million of U.S. pork exports being shipped to Japan. However, Japan's pork production is predicted to drop between 4.2 and 11.8% in the next six years due to increased competition from foreign competitors. The researchers suggest that these changes could lead to lower domestic production, higher import volumes, and increased availability of lower-cost foreign pork for Japanese consumers. They also highlight that the U.S. could lose a significant portion of its market share to other trade agreement partners if the U.S.-Japan Trade Agreement did not exist and the U.S. was subject to Japan's World Trade Organization gate price tariff system.

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

Original content

Researchers with the USDA Economic Research Service are forecasting Japan's pork imports to increase between 3.6 and 13.9% by 2028 due to the country's trade agreements in place. Based upon the Global Trade Analysis Project model, the researchers estimate this uptick could lead to an additional $281 million of U.S. pork exports being shipped to Japan. Japan currently produces 50% of the pork that it consumes through domestic production, however ERS points out that could soon change as domestic pork producers face increased competition from foreign competitors, putting downward pressure on Japan's pork industry and forcing producers out of the business. In the next six years, Japan's pork production is predicted to drop between 4.2 and 11.8%. Authors Eric Davis, Ethan Sabala, Dylan Russell and Jayson Beckman note that changes in Japan's recent trade agreements could boost the competitiveness of trade partners in the country's pork market. Japan has ratified trade agreements with ...

Source: NationalHogFarmer