July 28, 2011

US beef shipments to Hong Kong increase twice over

US beef exports to Hong Kong have more than doubled in volume to 50.8 million pounds since January this year-a good sign of a dynamic market, said Joel Haggard, US Meat Export Federation senior vice president for the Asia Pacific region.

The strong economy has boosted sales of boneless beef less than 30 months, he said, thanks largely to the region's draw as a tourist destination for mainland Chinese. "Also we're competitive pricewise; we've seen a pick-up of US beef by fast-food chains," he added. "It's a very encouraging profile."

Still, restrictions on beef over 30 months and bone-in beef have excluded US beef from prime rib and short rib markets, both of which Canadian beef producers have taken advantage. "If we do get the access we'll see a significant bump in sales," Haggard added.