Already the world’s largest pork producer and consumer, China has soared into the lead as the world’s largest pork importer, accounting for one-fourth of the world market. China will import 2.4 million tons of pork this year, a million tons more than Japan, the previous leader, says a semiannual USDA report.
The European Union provides 70 percent of Chinese pork imports, says the Livestock and Poultry: World Markets and Trade report. “Ample exportable supplies, low prices and an advantageous exchange rate have enabled the EU to expand shipments,” says USDA. Although the United States is a comparatively small supplier, China still has a palpable impact on U.S. exports — China was the buyer of 12 percent of U.S. exports from January-August this year, doubling its share during the same period in 2015.
China turned to imports when domestic pork production went on a decline last year. “The recent rise in Chinese hog and pork prices will stimulate herd recovery and thus production expansion will be initiated in 2017. This slight increase in domestic supplies will marginally depress import demand,” says USDA. Even so, China would remain the largest importer, far and away, with purchases again exceeding Japan’s imports by roughly 1 million tons.