Opportunity Opens Up in Panama for U.S. Pork

With the elimination of tariff barriers, pork exporters from the U.S. expected to reach $30 million in exports to Panama.

Wednesday, December 19, 2012

The goal of the U.S. Meat Export Federation (USMEF) is to reach this figure in pork and pork and derivatives exports to Panama by 2016, from the current level of near $12 million.

Under the free trade agreement with the United States, tariffs on pork and related products will drop substantially, says Gerardo Rodriguez, director of the USMEF trade for Central America and the Caribbean. For example:

- The tax of 60-70% in most cuts of pork will be removed on a quota of 3,520 tonnes.
- The 15% tax on bacon will be removed on a quota of 1,399 tonnes.
- The tax of between 15% and 30% for certain prepared and preserved products will be removed for a quota of 670 tonnes.

Rodriguez also noted that pork exports have had considerable success under the CAFTA-DR, reaching $37 million in Honduras, $23 million in Guatemala, $5.4 million in Costa Rica and $5.3 million in El Salvador.

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