Nov 26, 2019 - Economy & Business
U.S. pork producers eyeing $25 billion China market amid trade war
The U.S. pork industry is pushing the Trump administration to focus on increasing access in the Chinese market, worth $24.5 billion over 10 years, during the ongoing trade talks with China, Bloomberg reports.
Why it matters: The Chinese pork market is currently afflicted by the African swine fever that's pushed the cost up by more than 69%— making it the perfect time for American producers to swoop in with its product at a lower cost, per Bloomberg. Other countries, such as Brazil, have been able to cash in on the Chinese demand.
Go deeper: Global pork prices soar as swine fever infects herds in eastern Asia