USMEF letter directed to the Federal Maritime Commission (FMC) on the Westbou...
SARS Impact Fades but High Prices Stymie Traders
Hong Kong beef distributors this week were grappling with record U.S. beef prices and rapidly recovering demand as they scrambled to fill orders for what promises to be a decent Father's Day for Hong Kong's restaurant industry. Traders noted that demand for beef and other perishable food items continued to improve as consumer confidence in dining out returned. The trade was short supplied, however, as buyers have been holding back from purchasing as they watched U.S. beef prices — especially higher graded middle meats — escalate to unprecedented levels.
In another milestone, Hong Kong for the first time reported no new SARS infections or deaths on June 12. In Beijing, an optimistic new assessment by the World Health Organization on China's efforts to control SARS has raised hopes that travel advisories for that country will soon be lifted. China, like Taiwan, has been reporting zero to several new cases of SARS over the last week. The lifting of travel advisories for China are considered crucial to jump-starting the entire Asian Pacific travel and tour business. "Hotels are still weak; travelers who schedule regional swings including 4-5 cities are holding off rather than skipping a few stops," according to USMEF Vice President Asia Pacific Joel Haggard.
SARS Impact Fades but High Prices Stymie Traders
Hong Kong beef distributors this week were grappling with record U.S. beef prices and rapidly recovering demand as they scrambled to fill orders for what promises to be a decent Father's Day for Hong Kong's restaurant industry. Traders noted that demand for beef and other perishable food items continued to improve as consumer confidence in dining out returned. The trade was short supplied, however, as buyers have been holding back from purchasing as they watched U.S. beef prices — especially higher graded middle meats — escalate to unprecedented levels.
In another milestone, Hong Kong for the first time reported no new SARS infections or deaths on June 12. In Beijing, an optimistic new assessment by the World Health Organization on China's efforts to control SARS has raised hopes that travel advisories for that country will soon be lifted. China, like Taiwan, has been reporting zero to several new cases of SARS over the last week. The lifting of travel advisories for China are considered crucial to jump-starting the entire Asian Pacific travel and tour business. "Hotels are still weak; travelers who schedule regional swings including 4-5 cities are holding off rather than skipping a few stops," according to USMEF Vice President Asia Pacific Joel Haggard.