Jan. 10 – Pork China import tariff cuts in 2020, rates lower than MFN. Among others, frozen pork listed in the China’s reduced provisional rates for imported goods in 2020, precisely, frozen pork tax rate: MFN 12%; China 8%. China’s Customs Tariff Commission of the State Council announced it will temporarily adjust import tariffs on 859 commodities to come into effect January 1, 2020.
Why Pork China Import Tariffs Cuts in 2020?
Pork production deficiency in China at this moment is the main reason for cutting frozen pork China import tariffs in 2020, rates lower than MFN. Pork is one of Chinese favorite meats, especially around holidays times, pork meat is “a must have” items on the shopping list. Chinese eat an average of 120 pounds of pork a year. Half the world’s pork is consumed, according to a related report. China pork meat consumer tends to upward trend year by year, among consumer goods & FMCG, food & nutrition, China pork consumption 2018-2020 Statista indicates Per capita consumption of pork products in China 2018 was 33.7; 2019 was 34.2; and in 2020 will reach 34.7.
China pigs African swine fever led the pork product unavailability in China market in the past year, there is a famine of healthy pig for quality pork products in China which faces a “relative domestic shortage”, the gap has to fill in by stimulating more frozen pork China imports, cutting frozen pork China import tariffs in 2020 to achieve exactly the intended mission, to stimulate frozen pork China import potential, the demand and supply pork products in China market will be better-adjusted.
How much Meat Imported to China in 2019?
China’s meat imports up in 2019. From January to November 2019, China’s meat imports jumped 42% year-on-year to 5.49 million metric tons, and China Meat imports surged 82% year-on-year to 644,000 tons in November 2019, according to data released by the General Administration of Customs. Among others, the imports of pork and minced pork logged a 66% and 3.5% year-on-year growth to 1.84 million tons and 1 million tons, respectively. China’s reduced provisional rates for frozen pork China imports in 2020 will encourage more foreign quality pork products enter into China market, the reduced rate intended to stimulate import potential in pork sector where China faces a “relative domestic shortage”. In 2020, China will actively expand diversified sources of imports, speed up the entry of pork, other meat and aquatic products, and expand the sources of imported meat products and substitutes. It also will work with other government branches to prioritize imported pork and chilled meat in customs clearance inspections and release it at various ports across China, to ensure the country’s supply of pork and other meat products, the GAC stated.
How Chinese Importers is Affected by Pork China Import Tariffs Cuts in 2020?
Frozen pork is targeted product among consumer goods within the China’s reduced provisional rates for imported goods in 2020, precisely, China import tariffs on frozen pork from 12% reduced to 8% in 2020. The lower tariff seen as an essential import incentive to balance the demand and supply of pork products in China market. Among consumer goods & FMCG, food & nutrition, as stated by China pork consumption 2019-2020 Statista: Per capita consumption of pork products in China will rise from 34.2 in 2019 to 34.7 in 2020. Frozen pork China import tariff cuts is a great news especially for pork products traders, frozen pork products manufacturers, and pig farmers, etc., for companies want to export frozen pork to China, there is a market chance for making more profits by entering into China market. Certainly to contact related pork meat Chinese importers is a challenge, the List of Chinese Importers for Pork Meat will be a useful and handy, please contact DCCC for more details: email@example.com .