China’s growing appetite for ag products could benefit U.S. farmers.
USDA says that exports to China should pass $30 billion dollars this year. The country already bought more U.S. corn, soybeans, and sorghum, and it says that meat will also be in high demand.
USDA’s Fred Gale states, “This importing meat in China has taken us by surprise... back in 2010 we projected that China would be importing roughly one-million tons of meat by now, and then five years later, we ratcheted that up to about two to three million tons by now. But, they actually imported over nine-million tons last year, and that was partly due to the disease outbreak.”
The disease he mentioned was ASF, which hit China’s hog herds. USDA expects China to import even more meat this year in order to keep up with demand.
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