Chinese Embassy confirmed that China has halted Canadian meat imports
|- Chinese Embassy in Canada has confirmed that China has halted Canadian meat imports.
- USD/CAD is trading 20 pips higher on the Asian sessions between 1.3164 and 1.3186.
The Chinese Embassy in Canada has confirmed that China has halted Canadian meat imports after pork was found with ractopamine residue. This is weighing on the Loonie lifting Funds. USD/CAD is now trading 20 pips higher on the Asian sessions between 1.3164 and 1.3186.
Reuters explained that China will turn away any “meat products” shipped from Canada starting on Wednesday, according to a report in Le Journal de Montreal, citing an official in the office of the Chinese consulate general in Montreal:
The justification for the total block is that China said it had found a number of fake veterinary health certificates for meat products imported from Canada because of poor supervision, the newspaper said. According to Le Journal de Montreal, Chinese diplomats said they hope Canada will take the necessary steps to “reduce the negative impact on the reputation of its products in order to restore the confidence of Chinese consumers.” The Chinese consul’s office in Montreal could not be immediately reached for comment. The spokeswoman for Canadian Agriculture Minister Marie-Claude Bibeau said she would comment shortly.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.