Port of Oakland reported that its containerized agricultural exports are boosting, despite the trade war. The farm good shipments in the first four months of 2019 saw a 12% increase from the previous year. According to the port, the majority of its shipments are sent to Asia, despite US’s tariffs.
Mainly, Port of Oakland Maritime Director John Driscoll noted that it’s soon to declare victory as they expect to see the development of the trade outlook.
Driscoll added
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.
Through April the port exported the equivalent of 108,724 20-foot-containers loaded with farm products, reflecting an increase of 97,376 containers in the same timeframe last year.
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The port’s Chinese agricultural exports rose by 5%, not being affected by the nation’s tariff standoff with the US. Also, the majority of the ports shipments sailed to Asia. The Port said the average value per container of its agricultural export commodities was $36,000. A year ago, the figure was only $31,500, the Port said.
The increased export volume represented Asia’s middle class that rapidly develops.
As populations gain purchasing power, they turn to U.S. farm goods renowned for high quality
… the Port highlighted.
The Port added that ag exports to China rose 5 percent, despite that nation’s tariff standoff with the U.S. The trends are welcome after Oakland’s worldwide ag exports declined 10 percent in 2018.
Moreover, Asian market outside China accounted for most of the growth in Oakland agricultural exports; Amongst leading destinations were Taiwan, Vietnam, South Korea and Japan. The Port said US producers have turned to those destinations since China imposed tariffs on American farm goods, making them more expensive for overseas buyers.
Agricultural commodities account for about 37% of all international exports shipped from Oakland, the Port said, whereas the farm goods range from containerized rice to dried fruits, nuts and refrigerated beef. Roughly 11% of Oakland’s agricultural shipments have gone to China so far, this year.
