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FAPRI-MU: China’s purchases far behind pace
The director of the Food and Agricultural Policy Research Institute (FAPRI) says they do not see China reaching its phase one commitment of buying U.S. ag goods this year.
Pat Westhoff is with the University of Missouri and tells Brownfield Ag News, “We don’t know how it’s going to play out but so far China’s purchases in 2020 are far behind the pace that would be necessary to achieve the targeted levels of purchases in 2020.”
Westhoff says he doesn’t see that changing soon, “So it looks to us like while China may be buying more than it would have otherwise it’s still not going to be anything close to the targets that were set in the agreement reached earlier this year.”
FAPRI-MU, in a recent report, shows declining U.S. farm income this year and next from the effects of the pandemic.
