More US Food Exports to Hong Kong

WASHINGTON, D.C.Hong Kong is the fastest-growing market for U.S. food and beverage exports according to a new USDA report. During 2009, it grew to become the fourth-largest market for U.S. food productsand is the top market for all global export markets. USDA notes that this situation is particularly notable since most other export markets are shrinking.

The report notes that the Hong Kong market is valued at (US)$1.4 billion. Due to the currently weak value of the dollar, U.S. products see highly competitive pricing overseas. Also, the high level of food safety U.S. products are known for adds to their value in Hong Kong where consumers are leery of the safety of the products coming from neighboring countries.

USDA notes the top food and beverage prospects for U.S. export to Hong Kong include red meat, fresh and processed fruits, tree nuts, poultry, vegetables, wine, craft beer, and cheese.