Hong Kong’s total exports of processed food and beverages reached HK$46.5 billion in 2024, with re-exports accounting for more than 84% in value terms. Mainland China and Macao were the top two largest markets for Hong Kong’s processed food and beverage exports, accounting for 49% and 29% of the total exports respectively last year.

Thailand has reached a new agreement with China on inspection and sanitary standards for farmed aquatic products, opening the door for large-scale seafood export. Signed in February 2025, the deal introduces trade regulations to support exports of Thai aquaculture products. It outlines sanitary and quarantine standards for farmed aquatic products, simplifying the approval process for future seafood exports and facilitating trade.

The Gulf states – with their growing demand, increasing health consciousness, low regulation and little threat of tariffs – offer a potential bonanza to international food exporters.

China will impose additional tariffs on some agricultural products imported from the US starting from 10 March 2025, the Customs Tariff Commission of the State Council announced on 4 March. An additional 15% tariff will be imposed on chicken, wheat, corn and cotton, while sorghum, soybeans, pork, beef, aquatic products, fruit, vegetables and dairy products will be subject to an additional 10% tariff. For these products, corresponding tariffs will be added to the current tariff rates. There will be no changes to current bonded policies, or to tax reduction and exemption policies, and the latest tariffs to be imposed will not be reduced or exempted. Goods already in transit before 10 March and imported into China between 10 March and 12 April will not be affected by the current tariff increases. A detailed list of the agricultural products affected is available on the Ministry of Finance website at https://gss.mof.gov.cn/gzdt/zhengcefabu/202503/t20250304_3959228.htm.