The trade dispute dampened grain and soybean trade between the US and China in 2019 and China’s total imports of grain and soybean from the US in the year were down 18.5 million tonnes over 2017.
It seems, however, that trade negotiations between the US and China are progressing well, and hence soybean and grain trade in 2020 could re-bound, reports Hellenic Shipping News.
In 2017, the US exported $24 billion worth of agriculture products to China, of which soybean and grain accounted for a whopping 57% share of total trade.
US exported 11.6M tonnes of grain and soybean to China in 2018 – down from 27M tonnes.
If China’s grain imports from the US in 2020 recover to the numbers seen in 2017, while imports from other suppliers remain similar to 2019, China’s grain imports in 2020 will increase to about 19 million tonnes.
