U.S. Chilled Pork Arrives in Hong Kong to Fill Supply-Demand Gap amid Rising Fresh Pork Prices

Provides Affordable, Quality Option to Local Consumers

 

HONG
KONG, CHINA – Media OutReach
– 12 December 2019 – The U.S. Meat
Export Federation (“USMEF”) is pleased to announce the bulk shipment of
U.S. chilled pork to Hong Kong for local consumers. The import initiative has
been taken to fill the supply-demand gap for pork amid rising fresh pork prices
and to offer an alternative to consumers at an affordable price. U.S. Consul
General Mr. Hanscom Smith was present at the press conference as the guest of
honor.

 

With
the establishment of a continuous supply chain, U.S. chilled pork is available
in the Hong Kong market from December 2019

 

Mr.
Joel Haggard, Senior Vice President of USMEF Asia Pacific, said, “We are
delighted to bring U.S. chilled pork to Hong Kong amid rising interest and
demand for our products. U.S. pork is produced to the highest quality and
safety standards. The hogs’ diet of homegrown corn and soy gives U.S. pork a
unique sweet flavor and tenderness that consumers love. The chilled pork we are
bringing here will be a fine choice for Chinese cuisine with its excellent
quality and affordability, and makes an excellent alternative to fresh pork for
home cooking and restaurant catering.”

 

Live
pig auction prices in Hong Kong have increased 2.63 times in 2019, from the
monthly average of HK$1,188 per 100 catties in January to HK$3,132 per 100
catties in November, according to data from Hong Kong’s Food and Environmental
Hygiene Department. The price surge is attributable to the significant drop by
approximately 56.9% in the number of live pigs imported from Mainland China,
from an average of around 4,083 per day in January to around 1,757 per day in
November.

“As
the world’s largest pork exporter at a value of US$6 billion (HK$46.8 billion)
in 2018, the U.S. is also the largest chilled pork supplier to Asian markets,
including Japan and Korea,” added Mr. Haggard. “Over half of the U.S.’s total
chilled pork export value was derived from sales to Asia. The U.S. currently
has ample supplies of pork to export, with live market hog prices in the U.S.
approximately 80% below recent Hong Kong auction prices. The high quality and
competitive price of U.S. chilled pork make it an appealing choice to Hong Kong
consumers.”

USMEF
is a vertically integrated trade association in the U.S. meat and livestock
industry representing pork producers and feeders, beef/veal producers and
feeders, lamb producers and feeders, packers and processors, purveyors and
traders, oilseeds producers, feedgrains producers, farm organizations and
supply and service organizations.

About the U.S. Meat Export Federation

The U.S. Meat Export Federation
(USMEF) is a nonprofit trade association working
to create new opportunities and develop existing international markets for
U.S. beef, pork, lamb and veal.
Headquartered in Denver, Colorado, USMEF has more than a
dozen offices worldwide. Along with the 275 USMEF member, the
organization shares its local intelligence and more than four decades
of experience with U.S. exporters, traders and buyers in
addition to end users and processors in each market.