China Trade
China trade picks up in ’21Good news for Idaho and US farmers, China purchased near-record levels of U.S. farm products last year and that pace continues so far in 2021.
New trade data from the U.S. Census Bureau shows China purchased a potential new record of U.S. agricultural products in 2020, according to Farm Bureau Economist John Newton.
“For the calendar year 2020, China bought slightly more than $27 billion worth of U.S. agricultural products, which is likely a new record high in terms of exports to China,” said Newton.
Newton says China has already made large purchases of U.S. corn and soybeans in the 2021 marketing year.