Expanded Access and Strong Business Climate in Hong Kong Benefits U.S. Beef Exports

When Hong Kong expanded access for U.S. beef in February of this year, the move was somewhat overshadowed by Japan's long-awaited change allowing beef from U.S. cattle up to 30 months of age. While Hong Kong was already taking beef from under-30-month cattle, access for U.S. beef was limited to boneless cuts only. The regulatory change made in February expanded access to include most bone-in cuts from cattle under 30 months of age, as well as boneless cuts from all U.S. cattle. 

This policy opened new doors for U.S. beef in Hong Kong and the impact on exports has been dramatic. Export volume (through July) has doubled from a year ago to more than 60,000 metric tons. Export value is up 128 percent to $368.4 million, and has already set a full calendar year record.    

U.S. Meat Export Federation senior vice president for the Asia Pacific Joel Haggard says

Haggard: "This has resulted in significant bone-in sales. Much of that is in bone-in short ribs but we are also shipping items like prime rib and some other bone-in steak items. The Hong Kong economy is very strong. Food service is very strong. The member steakhouses continue to increase and at the same time Hong Kong continues to develop into a market for a wide variety of cuts."

Haggard also notes that Hong Kong's zero-duty access for imported beef helps U.S. exports remain strong, but also makes Hong Kong one of the most competitive markets in the world.