February 15, 2006

 

US poultry market share in Hong Kong declines

 

 

According to USDA's Feb 1 report on Hong Kong poultry and products, Hong Kong had an import market of US$385 million worth of chicken products in 2005. In addition, the market was worth US$72 million of live chickens and US$137 million of chicken feet.

 

In 2005, US chicken products failed to recover from its previous leading position of market share in Hong Kong due to the price-competitiveness of Brazilian products. The US held 33 percent of the market share in 2003 but this declined to 13 percent in 2005.

 

However, the US has not reported any case of the bird flu and Hong Kong consumers are confident about the quality and safety of US products. In fact, US poultry exports to Hong Kong are forecast to increase by 6 percent, reaching 35,000 tonnes in 2006. The US exported 33,000 tonnes of chicken products to Hong Kong in 2005.

 

Consumption of chicken in Hong Kong increased 5 percent in 2005. One reason for the increased consumption is the fact that many products originally aimed for re-export to China have remained in Hong Kong. To avoid incurring total loss, traders have dumped the products in the local market.

 

For the full USDA report, click here.