China purchased a record $35.9 billion in ag products from the U.S. in 2021. While activity fell short of the Phase 1 trade agreement thresholds – if that’s even a thing anymore – it was a roughly $7 billion, or 25%, increase from 2020 activity and the previous record of $29.0 billion (2013). This week’s article looks at the commodity-level changes in purchases.
Sources of Change
Figure 1 shows the sources of change in China’s U.S. ag purchases from 2020 to 2021. It’s been no secret that China has been making…
