Impact of African Swine Fever on US and World Commodity Markets

Miguel Carriquiry, Amani Elobeid, Dermot Hayes and Wendong Zhang ()

Center for Agricultural and Rural Development (CARD) Publications from Center for Agricultural and Rural Development (CARD) at Iowa State University

Abstract: Recent outbreaks of African Swine Fever in Vietnam, Cambodia, Laos, South Korea, and especially China, have generated interest in how world commodity markets will adjust in response to pig herd losses due to the disease and to panic culling to avoid the negative impacts of the disease. This adjustment is complicated by the retaliatory duties that China has placed on US soybean and pork exports and the duration of temporary exemptions on these tariffs. It is clear that a scarcity of pork will cause a reduction in pork consumption in impacted countries and a switch to alternative proteins. It is also clear that countries (such as the European Union and Brazil) who have direct access to China's pork and chicken markets will see an increase in exports. What is less clear is the second-round impact of these adjustments. Will the United States ship more pork to markets vacated by the European Union and Brazil as these countries pursue lucrative markets in China? What is the net impact on US and world soybean and corn exports and prices? What would be the implications for the United States if China removes retaliatory duties?

Date: 2019-11
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Persistent link: https://EconPapers.repec.org/RePEc:ias:cpaper:apr-fall-2019-4

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