China is scouring the world for meat to replace the millions of pigs killed by A...
LONDON/BEIJING - China is scouring the world for meat to replace the millions of pigs killed by African swine fever , boosting prices, business and profits for European and South American meatpackers as it re-shapes global markets for pork, beef and chicken.
Other Asian countries are also ready to step up imports as they, too, deal with outbreaks of ASF. Vietnam, the Philippines, North and South Korea, Laos, Myanmar and Cambodia are all struggling to contain outbreaks of the disease, which is deadly to pigs although not harmful to humans. Shortages in the world’s top pork consumer have been exacerbated by the upcoming Lunar New Year celebrations in late January, when pork, and pork dumplings in particular, play a central role in the food on offer.
Many more meat plants in Argentina and Brazil have recently been approved to export to China including beef and chicken as well as pork. Brazil exported 1.64 million tonnes of beef in 2018 with China buying 19.3% of the volume, trailing only Hong Kong. The South American country’s exports have been forecast to rise to 1.8 million tonnes this year.
“Right now, prices are astronomical, and the risk is very high,” said a Beijing-based beef importer, who was struggling to gauge the right volumes to meet demand and avoid being left with expensive stock at the end of the holiday period.
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