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CANADA'S MARKET SHARE OF CHINA'S WHEAT IMPORTS DOUBLES TO 60%
Aug. 20, 2019
Agri-Pulse reports:
Canadian farmers will be planting a lot more wheat because they're selling a lot more overseas - particularly to China in the absence of competing U.S. supplies, according to a new analysis from USDA's Foreign Agricultural Service.
China continues to levy a 25% tariff of U.S. wheat (along with many other farm goods) during the ongoing trade war and Canada has been able to capitalize on the situation. Canada is now forecast to export 24.5 million metric tons of wheat for the 2018-19 marketing year, up from 21.96 million the previous year.
Canada's share of total Chinese wheat imports leaped to 60% in the 2018-19 marketing year, up from 32% in 2017-2018, according to FAS.
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