China
Foreign buyers pay a premium for U.S. farmland, says analyst
An analysis of farmland sales in the Midwest and Plains states found foreign investors paid 13.7 percent more than American purchasers for comparable tracts, but the infrequent transactions did not affect land values overall, said Mykel Taylor, an associate professor of agricultural economics at Auburn University, on Tuesday. Foreign ownership is "pretty hot politically" as an issue, she said, and could result in the USDA becoming part of the powerful federal committee that decides if a foreign purchase poses a national security risk.
Swine epidemic in China casts long shadow on world pork market
China, the world's largest producer and consumer of pork, recovered from an epidemic of African swine fever among his pig herds by late 2021, three years after its first reported outbreak of the disease. Yet the domestic pork market remains volatile, "which may create additional uncertainty among pork exporters," said three USDA economists in a new report.
WTO backs U.S. in challenge of Chinese trade war tariffs
China wrongly imposed retaliatory tariffs against U.S. products including pork, wine, and fruits and nuts in response to Trump-era tariffs on aluminum and steel imports, said a WTO dispute panel on Wednesday. The trade war levies were an additional 25 percent on pork and an additional 15 percent on fruits and derived products.
Appetite for meat in China could lead to much larger imports
Meat consumption in China has increased significantly since the 1970s and could climb further in the next decade, giving the country one of the highest per capita consumption rates in Asia, said a USDA report: "This trend creates new opportunities for exporters in the United States and other countries but it also poses food security challenges and environmental impacts."
Senate votes to restrict foreign ownership of ag land
In a reflection of international tensions, the Senate voted overwhelmingly on Tuesday to prohibit China, Russia, North Korea, and Iran from purchasing U.S. agricultural land and agricultural businesses. The language was added to a military spending bill that was sure to pass the Senate and then be reconciled with a House version.
Key lawmaker proposes 60-percent tax on land purchases by U.S. adversaries
The United States would block foreign adversaries from snatching up agricultural land by putting a 60-percent excise tax on purchases by people and companies from China, Russia, Iran, North Korea, Cuba, and Venezuela under a bill sponsored by the chairman of the House's tax-writing committee.
Economic challenges worldwide force retreat in farm exports, says USDA
After setting a record last year, U.S. farm exports will shrink 8 percent this year, due to tightening economic conditions worldwide and lower commodity prices, said the Agriculture Department on Wednesday. The $15.4 billion decline in sales would be most pronounced for corn, cotton, beef, and soybeans.
Biden trade strategy: Stronger ties with like-minded countries
The Biden administration is writing “a new story on trade” that emphasizes cooperation with allies because countries such as China have abused open markets and low tariffs, U.S. trade representative Katherine Tai said in a speech on Wednesday.
U.S. dominance in ag export race is softening
The United States lost its place as the world's largest wheat exporter a decade ago, and now its leadership in exports of corn, cotton and tree nuts is being challenged, said a new USDA report. "Changes in global patterns of production and agricultural markets affected U.S. export competitiveness during the last two decades," said the Economic Research Service.
Worried about China, states limit who can buy U.S. farmland
A proposed corn mill processing plant was expected to be a big economic boon for Grand Forks, North Dakota, bringing hundreds of jobs. Then the U.S. Air Force weighed in at the request of North Dakota’s two U.S. senators — finding the Chinese-owned project’s proximity to a military base made it a "significant threat to national security." The city council voted the project down soon after. <strong>(No paywall)</strong>
Keep ‘foreign adversaries’ out of U.S. agriculture, say lawmakers
Bipartisan bills in the House and Senate, inspired by rising international tensions, would block China, Russia, Iran, and North Korea from buying U.S. farmland or agricultural companies, said sponsors on Thursday.
Air Force sees national security threat in Chinese-owned corn mill
China-based Fufeng Group may be forced to abandon plans for a corn milling plant in North Dakota, with the Air Force declaring the project "a significant threat to national security." The plant would be 12 miles from Grand Fork Air Force Base, a hub for air and space operations. Critics say the processing facility could be used to spy on Air Force activities.
Despite small crop, U.S. is top cotton exporter
U.S. cotton exports will shrink by 14 percent this trade year, the result of a drought-stunted crop, but America will remain the No. 1 supplier to the world market, said the USDA on Thursday.
U.S. lists biotechnology and ‘agricultural industrial base’ as national security interests
President Biden directed the Treasury-led committee that scrutinizes foreign investment in America to consider the national security impact any deals would have on U.S. technological leadership, including biotechnology and “elements of the agricultural industrial base that have implications for food security.” The executive order was issued amid rising concerns about Chinese purchases of U.S. land and companies.
Farm income, at record high, to moderate through 2027 — FAPRI
War in Ukraine and record-large ag exports to China will drive U.S. net farm income to a record $148.3 billion this year, twice as high as five years ago, said the FAPRI think tank on Monday. Income would decline in 2023 and 2024 as commodity prices soften, and then hold steady through 2027.
Ag is sole bright spot in Sino-U.S. trade
So far this year, U.S. exports to China are running at 2021's level and there is little reason to expect improvement in the near term, said analyst Chad Bown of the Peterson Institute for International Economics on Monday. "While agriculture overall remains a U.S. export bright spot in 2022, products like pork, wheat, and corn face new worries," he wrote.
U.S.-China ag trade endures amid rancorous rivalry
China was far and away the top customer for U.S. food and ag exports, despite rising tensions between the nations and the still-unresolved trade war, according to government data released on Monday. Agricultural economist David Widmar said China was on track to break the record it set last year for purchases of American agricultural products.
Growth slows as world population nears 8 billion
The global population is growing at its slowest rate since 1950, less than 1 percent a year, said the United Nations on Monday, with the population forecast to pass the milestone of 8 billion on Nov. 15. India was expected to surpass China as the world's most populous nation next year, with the United States challenged for third place by Nigeria by mid-century.
Mexico to displace China as top corn importer
China will remain the leading importer of soybeans and cotton, but Mexico will be the world's largest corn importer for the rest of this decade, said the Food and Agricultural Policy Research Institute. The United States would be the top corn exporter despite increased competition from Brazil, said the University of Missouri think tank in updating its international marketing baseline.