China: China Hastens Ag Import Diversification
Link to report:
For the last decade, China has embarked on a campaign to diversify its sources of agricultural imports in response to growing domestic demand. Diversification has afforded Chinese consumers with more food choices, while at the same time providing importers with more options in dealing with potential supply-side disruptions resulting from bilateral trade tensions or COVID. In contrast to the past, when the United States was among just a handful of suppliers, the United States now faces growing international competition in China. This competition will become even more fierce in the future as China widens its import base and domestic food and ag products become more sophisticated. In response to this tougher competition, U.S. exporters should consider taking steps to differentiate their products from the mainstream.
