FAS: China diversifies sources of food imports
China continues diversifying its portfolio of countries from which it imports food and agriculture products, the Agriculture Department’s Foreign Agricultural Service said in a report.
“Diversification has afforded Chinese consumers with more food choices, while at the same time providing importers with more options in dealing with potential supply-side disruptions resulting from bilateral trade tensions or COVID,” FAS said. “In contrast to the past, when the United States was among just a handful of suppliers, the United States now faces growing international competition in China. This competition will become even more fierce in the future as China widens its import base and domestic food and ag products become more sophisticated. In response to this tougher competition, U.S. exporters should consider taking steps to differentiate their products from the mainstream.”
–The Hagstrom Report
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In response to the severe drought conditions in the West and Great Plains, the Agriculture Department this week announced that plans to help cover the cost of transporting feed for livestock that rely on grazing.