Agricultural exports to China rose by 5%, in spite its tariff standoff with the US. This news comes after Oakland’s global agricultural exports reduced 10% in 2018.
Port of Oakland Maritime Director John Driscoll, mentioned:
It’s too soon to declare victory in this segment given the trade outlook. But our performance so far this year shows two things: there’s continued demand for U.S. farm goods and growers are resourceful when it comes to finding markets for their products
Until April, the Port had exported around 108,724 TEUs loaded with farm products. That was an increase from 97,376 containers for the same period last year. In addition, the majority of those shipments went to Asia.
Moreover, the Port informed that the average value per container of its agricultural export commodities was $36,000. Last year, the figure was only $31,500.
In addition, the Port said that Asian markets outside China accounted for the majority of growth in Oakland agricultural exports. Among the leading destinations we find:
- South Korea;
Furthermore, US producers have turned to those destinations since China announced tariffs on American farm goods, making them more expensive for overseas buyers.
Agricultural commodities make up for approximately 37% of all international exports shipped from Oakland. Around 11% of Oakland’s agricultural shipments have gone to China so far, in 2019.