While some trade climates have been tricky, we continue to see growth in other markets around the world. Some of the growth can be attributed to finding new markets as well as expanding existing markets in the wake of the Chinese trade dispute. However, many countries are also experiencing economic growth and the development of a middle class with an increased food budget.
Taiwan has been steadily increasing its demand for U.S. red meat products. This has been going on for several years and is not directly related to the Chinese trade war.
Taiwan just hosted its annual food trade show, Food Taipei. Joel Haggard is the US Meat Export Federation (USMEF) Senior Vice President for the Asia Pacific. Haggard says while Taiwan is a relatively small market for U.S. pork, it is a growing market in 2019. USMEF is finding new ways to market the product to the people of Taiwan.
Taiwan is already an importer of a half a billion dollars’ worth of beef from the United States. Haggard says the demand for beef in Taiwan’s restaurants is high.
Costco is also a big operator in Taiwan. Haggard says the retailers like Costco market U.S. beef products in Taiwan just like you would see them in the U.S.
As a result, other food markets are increasing their U.S. beef offerings, which Haggard says will just continue to benefit our markets in Taiwan.