Washington warned against insatiable attitude over China's US agriculture demand: experts

Source:Globaltimes.cn Published: 2020/5/24 23:44:58

A combine and a grain cart work in a soybean field of Pellett family's farm in Atlantic, a small city in Iowa, the United States, Oct. 16, 2019. Photo:Xinhua


China has been purchasing US agriculture exports according to the phase one trade deal despite the novel coronavirus (COVID-19) outbreak. As the pandemic subsides domestically, China has accelerated its purchasing pace. Chinese industry analysts cautioned the US and said that rather than being "insatiable" over China's agriculture demands, better conditions should be created to improve trade pact implementation.  

The comments followed a Fox Business report that said, "China needs to do more to meet the commitments it made in a high-profile initial trade agreement with the US," citing US farmers.

"While things are moving in the right direction on the purchase side, they need to accelerate," John Newton, chief economist at the American Farm Bureau Federation said in the report, adding that US farmers are "scratching their heads a little bit" after China's record high soybean purchase from Brazil last month.

The words may not come from US farmers, but from someone who wants to "stir up things" between the two countries, Jiao Shanwei, editor-in-chief of cngrain.com, a website specializing in grain news, told the Global Times on Sunday.

"April is harvesting season for soybeans from South America, and South American soybeans are also at their lowest prices, so it's normal business operations for China to buy Brazil soybeans in large quantities in April," Jiao said.

In the US, soybean harvest season happens after September, Jiao added.

Industry insiders and experts also stressed that China has kept its word to purchase US agriculture products despite COVID-19, although the total may not be the "ideal" amount due to the impact caused by the virus.

China imported 7.81 million tons of US soybeans in Q1 2020, a 2.1 times year-on-year increase worth $3.06 billion, according to data from China customs.

During the phase one trade deal, China has agreed to purchase an additional $200 billion worth of US products over the next two years.

"However, the US cannot reach for a yard after taking an inch," Jiao said, warning that whether China will continue to keep its purchase commitment will depend on whether the US will stop its relentless attack on China and "create good conditions" for implementing the trade deal. 



Posted in: INDUSTRIES

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