JD.com Inc, China’s second biggest e-commerce player, announced on Wednesday [8 November 2017] that it intends to purchase more than $2 billion of goods from the United States over the next three years, including the import of more than $1.2 billion of beef from Montana Stock Growers Association (MSGA) and pork from Smithfield Foods…Full Article: China Daily Nov 2017
- JD.com signed a three-year procurement agreement (~USD 200 million commitment) with the Montana Stock Growers Association (MSGA) and Montana’s Cross Four Ranch.
- In October 2017, WH Group announced that JD.com would begin selling pork from its US subsidiary, Smithfield Foods. Smithfield Foods’ pork products will be sold JD’s fresh food division, JD Fresh.
- As of September 2017, Omaha, Nebraska, was home to the largest number of approved US beef exporters, while Cargill Meat Solutions (a division of Cargill Inc. which is based in Kansas) operated the most geographically diverse set of approved plants (spread across four states).
- In June 2017, China’s General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) formally approved US beef imports after a 13-year-long ban. US beef has traditionally been shipped to Hong Kong, but will likely now be diverted to the major import cities of Tianjin and Shanghai where it will compete against supplies from Brazil, Uruguay, and Australia.
- Founded in 1958 and headquartered in Luohe, Henan Province, WH Group (formerly Shuanghui Group – HKG:0288) is a leading Chinese pork processor.
Hong Kong Trends