Pork Export Opportunities Expanding With Changes by Vietnam

DENVER, CO – With its domestic pork production heavily impacted by African swine fever (ASF), Vietnam has announced reductions to its most-favored-nation (MFN) tariff rates for imported pork. Effective July 10, the rate for frozen pork muscle cuts will drop from 15 percent to 10 percent, with the lower rate remaining in effect through the end of this year. The rate for frozen pork variety meat will remain at 8 percent and the rate for chilled pork muscle cuts will decline from 25 percent to 22 percent. U.S. Meat Export Federation (USMEF) Economist Erin Borror explains that as the Vietnamese pork industry struggles to recover from ASF-related losses, the government is taking a number of steps to help stabilize pork prices. She notes that these rate reductions are especially timely for the U.S. industry because Vietnam’s tariff rates for frozen Canadian pork currently stand at 9.3% for muscle cuts and 4% for variety meat under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Vietnam’s imports of pork from the European Union will soon receive similar tariff relief under the EU-Vietnam Free Trade Agreement, which Vietnam’s National Assembly is expected to ratify this month. In the first quarter of 2020, U.S. pork and pork variety meat exports to Vietnam increased 251% from a year ago to 4,382 metric tons, valued at just under $10 million (up 182%).
(SOURCE: U.S. Meat Export Federation)