NPPC Vice President and Counsel for International Affairs Nick Giordano and Iowa State University economist Dermot Hayes traveled to Beijing, last week where they met with Chinese and U.S. government officials to discuss the benefits of U.S. pork exports to China.
Currently in China, food price inflation exceeds 10 percent a year, causing hardships for the country’s poor, who spend more than 50 percent of their income on food. Not only would imports of U.S. pork help alleviate the burden of high food prices, they would be extremely beneficial to the U.S. pork industry.
Following the meeting with Chinese government officials, Hayes briefed China-based U.S. State Department and USDA Foreign Agricultural Service officials on the enormous growth potential of the Chinese market for the U.S. pork industry. If China increased imports as a percent of consumption by just 1 percent, the U.S. pork industry would increase sales by $1 billion and would create more than 27,000 U.S. jobs.
An increase of just one-quarter of 1 percent in Chinese pork consumption, would create almost 7,000 U.S. jobs.