Where is the “New China” for ag exports?
A top official with the U.S. Soybean Export Council says no single market can make up export losses experienced by trade disputes with China but combined, some areas offer potential.
“We’re talking about markets in the Asia subcontinent—Pakistan, Bangladesh, India; markets in Southeast Asia—Myanmar; and as well as in Africa.”
The U.S. soy industry was awarded about $32 million in agricultural trade promotion funding as part of the Market Facilitation Program which Paul Burke tells Brownfield nearly 80 percent has been earmarked for new market development.
He expects purchases from China later in the fall will be telling if they live up to their commitments in the Phase One trade deal.
“I think that we’re looking at an 18-month cycle before we’re going to know whether or not China is going to help us get out of some of the dark clouds we have right now.”
During the recent Great Lakes Crop Summit, Burke told Brownfield Michigan is well poised to take advantage of identity preservation requests for commodities like high-oleic and non-GMO soybeans.