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Strategies & Market Trends : China Warehouse- More Than Crockery
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To: RealMuLan who wrote (223)8/9/2003 3:41:57 PM
From: RealMuLan  Read Replies (1) of 6370
 
USDA: China's Exports Outpaced Imports During WTO Year One
by Julianne Johnston

In a special report today, USDA outlined year one of China's membership in the WTO. They say many analysts predicted China would become a larger importer of agricultural products following its accession to the World Trade Organization (WTO). However, during 2002, its first year as a WTO member, China actually became a larger net exporter of agricultural products

"China provided incentives to encourage corn exports, and soybean imports were interrupted by uncertainty over China's biotechnology regulations," says USDA. "Grain imports were minimal during 2002 due to tight world supplies that pushed the delivered price of imports above China's domestic grain prices."

USDA says China's exports of horticultural crops accelerated, but its poultry exports were hurt by concerns about disease and antibiotic residues.

"Historically, U.S. exports of bulk commodities to China have seen wide year-to-year swings. Sales of grain and cotton to China have been on the downswing since 1998. However, steady growth in purchases of consumer-oriented products since the early 1990s has made China a larger, more stable market for U.S. agricultural products," they add.

Link to full report
agweb.com
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