European farmers benefitted from a doubling of pork exports to China in 2016, according to an official industry organization. Countries including the United Kingdom, Germany, Spain and Denmark led the list of exporters. The UK’s Agriculture and Horticulture Development Board noted that global pork shipments to the world’s second-biggest economy reached 1.6 million metric tons…Full Article: China Daily Feb 2017
- In 2016, according to the UK’s Agriculture and Horticulture Development Board, Britain exported 1.6 million MTs of pork to China. In 2017, the board expects exports to decline owing to an expected increase in Chinese pork production.
- In November 2016, Shuanghui (WH Group, HKG:0288) acquired Californian pork producer Clougherty Packing [including Farmer John and Saag’s Specialty Meats] for US$145 million. During the same month, Danish Crown (pork processor) announced plans to build a pork processing factory in Shanghai. At the moment, Danish Crown was a raw material (pork) supplier to China, exporting pork, pig toes, ears and tails.
- From January to October 2016, Chinese pork imports totaled 1.39 million MTs, a ~133% year-on-year increase.
- In early July 2016, Anhui Province lost approximately 53,100 pigs, 2,350 cows, and 7.28 million heads of poultry due to flooding.
- In mid-June 2016, Chinese officials will reportedly audit Austrian pork producers for potential export approval.
- In late April 2016, China’s average pork price totaled CNY 26.24 [~US$4.04] per kg. A stark increase from the CNY 17.88 recorded in April 2015.
- From May 5th to July 4th 2016, Beijing will release 3,050 MTs of frozen pork from its reserves, including 50 MTs that will be sold daily to 121 supermarkets. Additionally, the government will provide subsidies to abattoirs, as well as to vendors (subsidy of up to CNY 9 or US$1.40 per kg sold).
- From December 2015 to May 2016, China had released approximately 150,000 MTs of frozen pork from its state reserves to dampen domestic pork prices.
- In March 2016, Beijing’s Xinfadi wholesale market noted a nearly 60% increase in pork prices versus the previous year.
- In December 2015, China began releasing frozen pork from state reserves in 12 regions including Beijing, Zhejiang, and Shaanxi.
- In June 2015, Belgium’s Minister of Agriculture signed a Memorandum of Understanding (MoU) with China that laid the groundwork for potential pork exports to China. Prior to June 2015, only two Belgian pork producers (18% of Belgium’s total pork output) were allowed to export China owing to a 2009 agreement. As a result of the MoU, an additional four companies will be allowed to ship pork to China starting in roughly September 2015.
- In April 2015, Chinese pork prices began to rise.
- In January 2015, Finland was granted approval to export pork to China.
- In April 2014, China and Denmark signed five agreements that focused primarily on Chinese imports of Danish pork (e.g. sausage), poultry, and dairy products.
- From November 2013 to August 2015, China lost 100 million boars and 10 million sows (adult female hogs). China’s pig inventory peaked in 2013.
Hong Kong Trends