COFCO has imported pork from Chile and the EU

COFCO Meat Holding has imported pork from Chile, the European Union and other alternative sources. The company announced today. High punitive tariffs on US pork made it necessary to buy meat from other parts of the world.
The subsidiary of COFCO, the state-owned corn and land conglomerate, said it had expanded its circle of foreign suppliers to better cope with the impact of the China-US trade dispute. The tariffs on US pork have made this origin too expensive for the Chinese market.
However, Beijing also imposed 25% punitive tariffs on US soybeans, driving up the price of soybean meal, which is an important part of the feed, and also boosting pork production costs.
With a price increase of 100 yuan / ton for soybean meal, the cost of meat production rises by 0.05 yuan / ton. The males have been earning less since then, especially as pork prices remain under pressure. In May, fattening pigs in China cost as little as they have done in years; but in the past weeks they have recovered a bit.Currently, prices for slaughtered pigs are again suffering from the effects of three outbreaks of African swine fever (ASF).
COFCO plans to continue expanding its pork production facilities in China's northeast. The grain belt of China is developing into a processing region with more pig fattening and milk production. New fattening systems do not pollute the environment as much as the many backyard farms in the rest of the country. COFCO is also expanding its slaughterhouses to an annual capacity of 1 million animals in Hubei Province this year. From there, the Chinese market in the center of the country to be supplied with pork. The company already has a slaughterhouse in this province with a capacity of 500,000 animals.

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