USMEF welcomes ‘biggest development in red meat trade’
05/12/2019
USMEF CEO Dan Halstrom said: “The US beef and pork industries look forward to expanded opportunities in Japan, which is already the largest value destination for US pork and beef exports (combined export value in 2018 was $3.7 billion).
“This agreement is one of the biggest developments in the history of red meat trade, as no international market delivers greater benefits to US farmers and ranchers, and to the entire US supply chain, than Japan.”
With tariff rates mirroring those imposed on major competitors, USMEF's forecast for 2020 is for US beef and pork exports to Japan to reach $2.3 billion and $1.7 billion, respectively. By 2025, it could rise to $2.8 billion for beef and more than $2 billion pork, it said.
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