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China office update - Danny Ding
Story Date: 12/14/2020
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Source: NCDA&CS, 12/11/20
U.S ag exports to China continue to grow dramatically. The dollar amount of exports increased 316% in October compared with the same period last year. It is estimated that China’s imports of U.S soybeans will reach 30 million metric tons in 2020, which is about 30% of overall amount (a record high of 101-102 million metric tons). And Chinese importers are placing new orders for 2021 earlier than usual practice.
According to Bloomberg, China-U.S. farm ties are stronger than ever despite trade war. The report said, measured by the bushel, the U.S.-China relationship has never been stronger. Pig farmers in China and crop farmers in the U.S. have become increasingly interdependent.
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