China's US farm purchases fall to lowest level in seven years
Beijing bought US$ 7.2 billion in American products, excluding soybeans, through September, well below the annual target of US$ 17 billion, Reuters reports.
Translated from the Portuguese original by the Panorama newsroom. Read in Portuguese
Summary written by the Panorama newsroom from the sources listed below. Facts are attributed to the original publications.
Chinese purchases of US agricultural products, excluding soybeans, are on track for their lowest level in seven years, despite Beijing's commitment to buy at least US$ 17 billion a year, according to a Reuters report published by g1.
Between January and September, China bought US$ 7.2 billion in meat, corn and other items, the lowest figure for the period since 2019, the height of the first trade war between the two countries. Soybeans are part of a separate commitment, and the target for the grain is on course to be met.
It is still unclear whether Beijing is failing to honor the deal, as the White House has not said whether the clock started running from the May announcement or will only start once the tariff cuts proposed by China are completed.
Weak demand for corn and meat and greater competition make American exports harder and frustrate farmers, who also face higher fuel costs. The issue has gained political weight on the eve of the midterm elections, with Democrats trying to win over rural voters who have traditionally been Republican.
"There are a lot of silos full of grain," said Tim Lust, of the National Sorghum Producers.