December 24, 2019

China expected to reduce frozen pork tariffs from January 1, 2020

The Finance Ministry said the tariff changes, from 12% to 8% will be implemented next year to boost product imports facing domestic shortage, reported Reuters.

A "phase one" agreement between China and the United States marked the first breakthrough of the two countries trade war, reducing US tariffs in return for increased China purchases of US agricultural goods.

Pork is among the more than 850 products on China's most-favoured-nation tariffs list, with the country hoping to supplement dwindling supplies of the meat caused by the African swine fever outbreak.

However, the US Meat Export Federation said the tariff cuts did not affect China's retaliatory tariffs imposed on US pork, which is currently set to 72%.

China has implemented various domestic measures in efforts to boost pork production, as well as increase imports of different types of meat to meet demand. This has resulted in surging pork prices in the country, which has also affected global prices.

In November 2019, China imported 229,707 tonnes of pork, a 150% increase compared to 2018. Between January to November 2019, pork imports rose 58% from 2018 to 1.733 million tonnes.

-      Reuters