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Thursday, March 30, 2023

U.S. farm exports to China seen down 6 percent in fiscal 2019 vs. 2018: USDA

U.S. farm exports to China seen down 6 percent in fiscal 2019 vs. 2018: USDA© Reuters. A combine drives through a field of soft red winter wheat during the harvest on a farm in Dixon, Illinois

WASHINGTON (Reuters) – The U.S. Department of Agriculture expects the value of U.S. farm exports to drop by $1.9 billion to $141.5 billion in fiscal 2019, versus 2018, led by a steep decline in shipments to China due to an ongoing trade dispute, a department official said on Thursday.

“The share of total U.S. agricultural exports to China in value terms is projected to be 6 percent, down sharply, with China falling from the top market in 2017 to fifth place,” USDA Chief Economist Robert Johansson told the USDA annual forum in Washington.

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Source: Investing.com

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