November 29, 2007
More US beef enters Hong Kong market
US has driven up its beef export volume to Hong Kong, tapping on the huge market potential in the greater China region.
The region is composed of Hong Kong, Macau, China and Mongolia -- all avid consumers of US beef and beef products.
US Meat Export Federation (USMEF) reported a flurry of international activities this fall. In 2006, the annual exports reached 3,450 metric tonnes valued at US$15 million.
Dan Halstrom, USMEF chairman from Greeley, Colorado, said beef consumption is increasing at a higher rate than other proteins. Much of the increase is attributed to the relatively affluent urban population.
Strong economic growth in Hong Kong also helped foodservice receipts and boosted demand for high-end beef, Halstrom said.
US beef producers need to stay competitive in this global market, by leveraging beef checkoff dollars, USMEF urged.
