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High US grain prices have little effect on Chinese pork imports

Updated: 2012-08-14 07:56
By Joseph Boris and Wei Yu in New York ( China Daily)

As a result of the worst drought to hit the United States in 56 years, pork prices are estimated to jump, slowing exports to China and other countries.

"With higher grain prices (caused by the drought), we expect that all protein prices, including pork, will increase," said Keira Lombardo, a spokeswoman for the Virginia-based Smithfield Foods Inc. "We would not be surprised to see double-digit increases."

Smithfield produces and processes more pork than any other company in the world, and is the largest US pork exporter to China, shipping about 1.1 billion pounds (499 million kilograms) of it in 2011.

High US grain prices have little effect on Chinese pork imports

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