Market access for Canadian beef to Ukraine established

Jul 23, 2015

Tariffs could be removed on many agricultural products

In an effort to continue establishing Canada’s role as an attractive trade partner when it comes to agricultural exports, the Canadian government established market access for beef in Ukraine.

The access applies to beef from cattle under 30 months and ready-to-eat meat; it comes after Ukraine banned Canadian beef in 2014.

Import & Export

"Our Government continues to work closely with industry to open, re-open and expand new markets for our quality Canadian products,” said Agriculture Minister Gerry Ritz. “Strengthening trade with Ukraine is another step towards ensuring producers can earn their living from the marketplace, and ultimately helps create jobs, growth and prosperity for all Canadians.”

The establishment of Canadian beef in Ukraine is another step being taken by Prime Minister Harper and Ukranian Prime Minister Arseniy Yatsenyuk in negotiating a Canada-Ukraine Free Trade Agreement. Doing so will eliminate Ukraine’s tariffs on beef, pork, pulses, grains, canola oil, processed foods and animal feed.

"I am very pleased that the Canadian government has completed the negotiation of a free trade agreement with Ukraine,” said Joe Reda, President of Canadian Meat Council. “A survey of Canada's meat processors has confirmed the existence of significant long term interest in trade with Ukraine, not only as a supplier of high quality protein to Ukraine's 45 million citizens, but also in the context of Ukraine's access to the European Union and its trade with the countries of Eastern Europe.”

Canada and Ukraine:

Total trade between the two was around $347 million from 2011-2013
Canada exported $35.5 million worth of agriculture and agri-food products to Ukraine in 2014
Ukraine imported $17.1 million worth of global beef in 2014

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!