Some bright spots in China demand situation
The president and CEO of the US Meat Export Federation says it’s not all bad news coming out of China as it relates to demand.
Traditional food service in China has been getting hit hard by the coronavirus outbreak and there’s been concern it will impact the country’s pork and protein needs.
US Meat Export Federation’s Dan Halstrom says that’s a valid concern, but the outbreak has forced China’s restaurant industry to get creative – and that’s helping the overall demand picture. “A lot of them have developed online platforms to deliver their meals to homes,” he says. “Because the home consumption is booming. Retail up and the home delivery is booming in general.”
He tells Brownfield the global supply situation is still very short – and the US is still well positioned to take advantage of it. “Don’t forget we still have the African swine fever problem in China,” he says. “Where 50 percent of China’s hogs are impacted some how by ASF. Well that translates into about 25 percent of the world’s pork. We’re short meat in general.”
Halstrom was interviewed by Brownfield at the 2020 National Pork Industry Convention in Kansas City, Missouri.
AUDIO: Dan Halstroms, US Meat Export Federation