US/China Trade War 'Could Benefit' Irish Pork Producers
The trade war that has occurred between the US and China, could benefit Irish producers such as pig farmers that are looking to expand into the Chinese market.
The American pork industry 'sent more than a billion dollars in products, making China the number three market for US pork. Irish exporters reportedly said there could an opportunity to now gain ground in China.
Yesterday, China hiked tariffs by up to 25% on 128 US goods, which included everything from frozen pork and wine to certain fruits and nuts, reports Irish Independent.
Irish Farmers' Association (IFA) pig chairman Tom Hogan told the Irish Independent that the trade war could improve the competitiveness of Irish pig meat.
"China has developed into a very important market for Irish pigmeat since the Russian ban," he said.
"The cost of production of US pigmeat is significantly below that in Ireland and the EU due to our welfare requirements and higher feed costs," Mr Hogan added.
"The US is a significant exporter of pigmeat to China and if tariffs on US pork improve the competitiveness of Irish pigmeat in the market, it would be positive for Irish pig farmers," he said.
Mr Hogan also said he foresees the trade war between China and the US having a positive effect on Irish pig prices.
© 2018 - Checkout Magazine by Donna Ahern