| American Pork is going to be imported into China | |
|---|---|
| Sep 5, 2007 05:01 |   |
 | It is said the largest pork products company Smith-fieldFoodsInc has agreed with a Chinese company to export 60 million ponds pork to China It will be sold 40 yuan to 50 yuan half a kilogram! Do you think Chinese will buy it? |
| Sep 5, 2007 17:05 | #1 |
| Smithfield Foods, is the world’s largest pork processor and hog producer, with revenues exceeding U.S. $11 billion in fiscal 2006. The company HQ is located in Smithfield, Virginia USA. They have dozens of major American brand names within their corporate umbrella. Most of the pork produced in the USA and Canada for that matter, is very high quality with lower fat content. The price quoted US $ 5.20 to $6.60, (40 to 50 RMB) per half kilo (approx. 1 pound) is a little higher than the average retail price per pound in the USA. I still prefer beef to pork and eat more beef steak than that of any pork products. Depending on the cut of meat, some pork can be had for as little as $3.50 per pound, sometimes a little lower when on a special sale; with higher quality cuts of superior pork chops, going for as much as $6.00 to $7.00 per pound at some stores in America. Both pork and beef prices have risen in the US over the past few years, due to the increase in feed grain prices, and other fuel related production and transportation costs. Accordingly, those Chinese, who are more affluent, and like high quality products, my be more willing to buy the higher priced USA pork. Key: 1 kilo = 2.2 pounds (lbs) ½ kilo = 1.1 pound (lb). Exchange: @ 7.55 RMB 100 RMB = $13.20 and 50 RMB = $6.60 (approximate) |
| Sep 5, 2007 20:51 | #2 |
| Yes, Chinese will surely buy the pork. On August 28th, Smithfield declared that they had made a deal with a Chinese corporation. I guess that the imported pork will be reserved to prevent the fluctuation of the pork price and market. |
| Sep 6, 2007 04:17 | #3 |
| Yes, that is a very good point Katrina !! It goes to adequate supply, for the always increasing demand. With the addition of the US produced pork, into the supply chain, there will ultimately be a decrease in spikes in prices and spot shortages of pork, within China. Regardless, of whether the Chinese citizen buys the US or the domestic product, the supply chain will be more stable and dependable. This will be good for all parties of interest, including the consumer. |
| Sep 6, 2007 06:38 | #4 |
| Roger, my understanding is that US farmers get huge handouts from their tax payers to be able to compete in the World market. Is this correct? Dodger. |
| Sep 6, 2007 18:53 | #5 |
| You are right Dodger... That's something I forgot to say about Africa, if they strave this is also because our products are underestimated on the market because of subventions given by Western countries to their farmers, so Africans need to sell it even at a lower price... And earn less and so on, a vicious circle in other words. |
| Sep 7, 2007 02:53 | #6 |
| Protection and restraint of trade is unavoidable. |
| Sep 7, 2007 03:13 | #7 |
| Actually it is, all the poorest nation are forced by the richest to get rid of every single protection, while they protect their farmers ' production... |
| Sep 8, 2007 12:59 | #8 |
| Some pork has been imported by China for long time. China is an economically sound nation. The best of China is yet to come, Some people in the USA can only eat ground beef, others can eat sirloin There always will be poor people in the village of ours named the world. |
| Sep 8, 2007 19:37 | #9 |
| Quote: There always will be poor people in the village of ours named the world. Exactly ;) nothing to add. |
| Sep 9, 2007 03:48 | #10 |
| Exept perhaps Erencius that French Farmers are the most subsidised and protected group in Europe? Dodger. |
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