China may impose provisional anti-dumping measures on pork imports from the European Union as part of a year-long probe that began on June 17, its commerce ministry said on Thursday.
China’s dumping probe into EU pork imports following duties slapped on Chinese EVs, caught Spain’s pig farmers on the hop this week, but the sector proved it is resilient and far less vulnerable than the car industry.
China has opened an anti-dumping investigation into imported pork and its by-products from the EU, a step that appears mainly aimed at Spain, the Netherlands and Denmark, in response to curbs on electric vehicle exports.
Leading EU pork exporter Spain on Monday said it was working with European Union officials to avoid damaging tariffs after Beijing said it would open an anti-dumping inquiry.
Europe’s pork industry faces a “nightmare scenario” of lower prices and falling profitability if China restricts imports from the region, industry executives and analysts said.
Chinese companies plan to request an anti-dumping investigation into imports of some pork products from the EU, the state-backed Global Times newspaper reported, citing an unidentified “business insider.”
Brazil revealed extensive losses of livestock from floods in the state of Rio Grande do Sul, likely leading to meat production disruptions. Hog farmers lost an estimated 12,600 head after floods submerged entire towns.
No H5N1 flu virus was found after cooking ground beef to medium to well done, USDA said in a briefing on Thursday after conducting a study as it addresses concerns over an outbreak of the disease in dairy cattle.
Shares of Brazil’s JBS SA rose 7% in early morning trading on Wednesday after the world’s largest meatpacker reported strong first-quarter results in spite of headwinds faced by its large U.S. beef business.
