U.S. and Hong Kong Trade Agreement, Cargill Beef Rebounding
- The U.S. and Hong Kong, the fourth largest market for U.S. beef and beef product exports, have agreed on new terms and conditions that will help expand U.S. beef and beef product exports.
Effective Tuesday, Hong Kong will permit the import of the full range of U.S. beef and beef products as the World Organization for Animal Health granted the U.S. negligible risk status for BSE last year.
Secretary of Agriculture Tom Vilsack says this is great news for American ranchers and beef companies as the USDA looks forward to expanded opportunities in Hong Kong for the U.S. beef industry since all trade restrictions are now lifted.
- Beef Products Incorporated and Cargill say their sales of lean finely textured beef have started to rebound after about two-years since public backlash from critics labeling it as pink slime.
Cargill Director of Communications Mike Martin says the company has about 400 customers for lean finely textured beef which is more than it had before the controversy in 2012, but he says the amount of product they are purchasing is much less than before.