China Continues to Import Soybean, Pork and other Agricultural Products from US
According to the weekly export report released by USDA, Chinese buyers ordered 760,527 tons of soybeans from US in the week ending November 7. Meanwhile, U.S. exporters shipped 693,527 tons to China.
China was the largest buyer of U.S. soybeans in the week, accounting for 61% of the total weekly sales of 1.256 million tons. In autumn, U.S. is usually the largest exporter that export soybeans to China.
According to Wilbur L. Ross, Jr., the US secretary of commerce, the two sides are currently seeking to finalize the first phase of trade agreement. He added that negotiations on the details are making progress.
Since September 1, Chinese buyers have promised to buy 8.04 million tons of U.S. soybeans, including 129,000 tons announced by the government. So far, 3.15 million tons have been shipped.
During the same period last year, Chinese buyers ordered 647,990 tons of soybeans and 339,003 tons among them have been shipped. As of mid-November in 2017, before the trade war broke out, 18.68 million tons of soybeans were exported to China and 13.29 million tons were shipped.
In the week ending November 7, the United States also exported 5,549 tons of pork to China, the highest level in a month. In recent months, China, the world’s largest pork consumer, has increased its pork imports.
On November 14, China also announced the lifting of restrictions on poultry imports from the US that have lasted for nearly five years. U.S. trade representatives said the move could cause U.S. poultry exports to China to exceed 1 billion US dollars per year.
According to Jim Sumner, the chairman of USAPEEC, China may buy American chicken, turkey, duck and other kinds of poultry meat to offset the pork shortage.