U.S. pork exports to China surge led by Brazil's JBS, China's WH Group
CGTN

U.S. pork exports to China have surged beyond pre-trade war levels, led by higher shipments from Brazil's JBS SA and China's WH Group Ltd, according to Panjiva, the research unit of S&P Global Market Intelligence.

JBS may have shipped 370 percent more U.S. pork to China this year through August 31 than in the same period in 2017, while exports linked to WH Group rose 90.1 percent, Panjiva said Tuesday. 

The world's biggest pork processor, WH Group Ltd, reported a 32 percent jump in 2019 profits as high pork prices in China boosted the value of the company's exports from the United States and lifted margins on its China sales.

Meanwhile, Springdale, Arkansas-based Tyson Foods Inc shipped 7.3 percent less pork to China compared to the same period in 2017. The meat processor in June reported COVID-19 cases among its employees, so China later suspended imports from the firm.

U.S. President Donald Trump signed an executive order in April that he said would keep meat processing plants open to cope with meat shortages despite the COVID-19 outbreaks.

U.S. meat production has recovered as plants have reopened after being hit by COVID-19. Frozen pork supplies in cold-storage facilities reached a three-month high in August, according to the U.S. Department of Agriculture.

Pork is a staple in the Chinese diet and accounts for more than 60 percent of all meat consumed in China.

China has been taking several measures to boost market supply since the beginning of this year, , including releasing frozen pork reserves, supporting hog farming and increasing imports. 

In July, China's population of hogs rose 13.1 percent year on year, showing a steady production recovery after the African swine fever took its toll on the hog industry last year.

(Cover: Pigs nearing market weight stand in a pen at Duncan Farms in Polo, Illinois, U.S. April 9, 2018. /Reuters)

(With input from Reuters)