Farms.com Home   News

Cost Of China Meat Ban Approaching $100 Million

The Canadian Pork Council (CPC) says the cost of the temporary suspension of Canadian pork and beef exports to China imposed on June 25 is approaching $100 million.
 
The pork and beef sectors are calling on the Government to make clear their strategy to reopen the Chinese market and ensure there are more options for export diversification when such issues arise.
 
The suspension of product came on June 25th, triggered by China Customs discovering a shipment of non-Canadian pork exhibiting technical irregularities and fraudulently certified as Canadian with falsified documents.
 
The Pork Council is calling on all parties ahead of the upcoming election to articulate how they see this file being resolved.
 
"We have been patient and respectful with the Government. But we are entering our third month out of China and as Chinese importers establish arrangements with alternate suppliers, it will be increasingly difficult for Canada to regain market share once the suspension is lifted," stated a CPC news release. "The financial investments made and commercial relations built to position Canadian meat in China are eroding daily and our global brand will be negatively impacted."
Click here to see more...

Trending Video

NEW “FEMO” = AI STOCK FRENZY!

Video: NEW “FEMO” = AI STOCK FRENZY!


The new acronym on Wall Street is not “FOMO”, its “FEMO” - Fabulous Earnings Momentum. DELL this week crushed their earnings and revenue guidance sending the stock up 40%! Micron's valuation went from 500 billion to 1 trillion in 48 days!
U.S. Corn Belt drought expanding need timely rains in June.
Rumors this week that China was lowering U.S, ag tariffs and wanting to buy U.S. corn?
Flood could damage crops in China like corn and wheat.
U.S./Iran 60-day truce = lower crude oil futures by end of June.
U.S. urea futures down 28%.
Soy oil and canola futures technically breaking out
+ CFTC.