US agricultural exports to China reach record level in 2022
Soybean
China
United States
Published Jan 19, 2023
Tridge summary
The USA exported agricultural goods to China with a record value of US$36.4bn in the 2022 fiscal year, according to United States Department of Agriculture (USDA) data reported by AgriCensus. Overtaking the previous year’s record, the volumes make China the largest export market for the USA for the second consecutive year, according to the 9 January report.
Original content
The USA exported agricultural goods to China with a record value of US$36.4bn in the 2022 fiscal year, according to United States Department of Agriculture (USDA) data reported by AgriCensus. Overtaking the previous year’s record, the volumes make China the largest export market for the USA for the second consecutive year, according to the 9 January report. Higher global commodity prices and strong demand helped drive US exports above the previous year’s record, despite lower volumes for most products, the USDA said in its latest International Agricultural Trade Report. The Phase One trade agreement introduced by former US President Donald Trump had also reduced or removed technical and non-technical barriers for several products, including poultry and beef. At a record US$16.4bn, soyabean sales were 16% higher than the previous year and accounted for nearly 50% of US agricultural exports to China. China is the world’s largest soyabean importer and processor, consuming nearly 120M ...
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