A "nightmare" awaits the EU pig industry if China limits imports- Reuters

Published Jun 16, 2024

Tridge summary

Europe's pig industry is facing potential lower prices and profitability due to possible import restrictions from China. Chinese companies have requested an anti-dumping investigation into pork imports from the EU, following EU anti-subsidy tariffs on Chinese-made electric cars. In 2023, China imported over $6 billion worth of pork, including offal, of which more than half was from the EU. The suspension of orders could result in significant business losses for the European meat industry, particularly as China imports parts of the animal that have little demand in Europe. If China seeks alternative supply options, South America and Russia are potential candidates. The European Commission is set to announce temporary tariffs on Chinese electric car manufacturers, which could impact Chinese companies.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Europe's pig industry faces a scenario of lower prices and lower profitability if China curbs imports from the region, industry executives and analysts said. Chinese companies have asked for an anti-dumping investigation into pork imports from the European Union, state-backed Chinese media reported. This led to an escalation of tensions after the bloc imposed anti-subsidy tariffs on Chinese-made electric cars. China imported $6 billion worth of pork, including offal, in 2023, more than half of which came from the EU, according to Chinese customs data. The suspension of orders will lead to a huge loss of business for the meat industry in Europe. "A complete stoppage of EU pork exports to China would be a potentially dire scenario for the pork supply chain and would have EU-wide implications," said Justin Sherrard, animal protein expert at Rabobank. Sherrard added that the disruption would be felt across the pork supply chain in Europe, leading to lower prices and lower profits for ...
Source: Unian
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