China has “really stepped up” its purchases of U.S. farm exports in recent weeks, said Agriculture Secretary Sonny Perdue on Monday, and he is hopeful of the sales bonanza promised in the “phase one” agreement that de-escalated the Sino-U.S. trade war. “They are saying… the right things about their desire to fulfill their commitment,” Perdue said.
The trade agreement, which took effect in mid-February, obliged China to buy $36.6 billion worth of U.S. food, agricultural, and seafood products this year. But some analysts are skeptical it will reach that level. Through the first seven months of the year, China reported purchases of $9.9 billion of the products. It has been active in the U.S. market since mid-July.
“And I believe they have the capacity. China imports a lot of things,” said Perdue during an online session with the National Association of State Departments of Agriculture.
Louisiana agriculture commissioner Mike Strain said Hurricane Laura drowned cattle herds, destroyed farm buildings, flooded rice and sugarcane fields, and damaged the cotton crop last week. He asked Perdue if a disaster fund would be available, considering the derecho damage in Nebraska, Iowa, and Illinois earlier this month.
“The real answer to that is (it’s) up to Congress,” replied Perdue. There may be some money left in the so-called WHIP-Plus program created to handle losses from hurricanes, floods, and wildfires in 2018 and 2019. “With Congress looking at the Iowa situation and now the Louisiana hurricane situation, I wouldn’t be surprised if we don’t see some of that” shifted to 2020 losses, said Perdue.
The USDA forecasts farm exports of $14 billion to China in the current fiscal year, which ends on Sept. 30, and sales of $18.5 billion in fiscal 2021. If the forecasts are correct, China would remain the No. 3 market for farm exports, behind Canada and Mexico.
On Monday, private exporters reported the sale of 596,000 tonnes of U.S. corn for delivery to China during the 2021/21 marketing year, which opens on Tuesday.
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September 01, 2020 at 10:09PM
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Perdue hopeful China will meet 'phase one' trade targets - Successful Farming
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