December 7, 2009

Hong Kong removes restriction on Canadian beef imports

Hong Kong has dropped its last restriction on imports of Canadian beef, which may boost the value of the shipments by 76 percent.

Canada estimates the value of its beef exports will rise by about C$26 million (US$24.6 million) per year. Canadian beef exports to Hong Kong in 2008 were valued at C$34 million (US$32.2 million).

Hong Kong was the fourth-largest market for Canadian beef in 2008.

Canada made the announcement after Prime Minister Stephen Harper met with Hong Kong Chief Executive Donald Tsang during a visit to the Chinese territory. Harper is in the region to strengthen ties with China and secure the Chinese market for Canada's oil, natural gas, canola oil and other commodities.

China Grain Reserves Corp., in charge of stockpiling grains for the Chinese government, will increase its purchases of Canadian canola oil to 350,000 tonnes, up from 150,000 tonnes this year, said Harper's office.

Hong Kong banned Canadian beef imports in 2003, after the discovery of mad cow disease in the country's livestock. In 2004, Hong Kong allowed in boneless Canadian beef from cows under 30 months of age.