The US Department of Agriculture forecasts a considerable increase in China’s imports of coarse grains, soybeans, cotton, beef, and pork by 2024.
Furthermore, growth in U.S. exports of horticultural goods, dairy, and alcoholic beverages to China bode well for future opportunities within the consumer-oriented products sector. Provided the U.S.-China trade partnership remains strong, U.S. agricultural producers are well positioned to capitalize on China’s economic development and consumer demand into the future.
The value of U.S. agricultural and related exports to China has more than tripled over the last 10 years, reaching a record $29.6 billion in fiscal year 2014 before declining slightly in fiscal year 2015.