Browse Data and Analysis

World peach and nectarine1 production has seen significant growth in the past decade, rising more than 20 percent from 19.6 million tons to 24.2 million in 2022/23.

Japan has a well-developed food retail market that demands high-quality, high-value agricultural and food products. Despite reduced economic activity during the COVID-19 pandemic, trade data show that agricultural imports have remained resilient.

U.S. agricultural exports to China in fiscal year (FY) 2022 were $36.4 billion and surpassed the previous year’s record with China as the largest export market for the second consecutive year. Significantly higher agricultural prices and resilient demand helped drive exports above the previous year’s record despite lower volumes for most products.

The volume of U.S. fresh, dried, and processed fruit exports between 2012/13 and 2021/22 dropped 29 percent to 2.9 million metric tons[1]. However, a 25-percent gain in unit value during this period softened the decrease in value to just 11 percent lower as trade dropped $700 million to $6.0 billion.

U.S. beef exports to East Asia in 2022 are again on record pace after a record year in 2021. Despite economic uncertainties due to the COVID-19 pandemic, continued global supply chain challenges, and a competitive global beef market, U.S. beef exports to East Asia, both in value and volume, were outstanding in the first half of 2022.

A number of factors have converged over the last 18 months to send global agricultural commodity prices to near-record levels. Russia’s invasion of Ukraine – and the potential loss of Ukrainian exports – was the latest development to push commodity prices higher.

As countries roll back COVID-19 restrictions, foreign market demand for beef is becoming a bright spot for U.S. producers.

In the first quarter of 2021, U.S. soybean exports reached the second-highest value ever at $7.7 billion, nearly double the same period last year.

Strong foreign demand and reduced competition have sharply boosted exports to record levels for U.S. corn in 2020/21.

China’s bakery sector has been expanding rapidly in recent years, underpinned by the country’s rising middle class, ongoing Westernization of lifestyles and diets, and increasing demand.

Japanese consumers have become more health conscious, demanding food products that contain natural ingredients, minimize additives and sweeteners, and support health, dietary, and functional needs.

While trade tensions and China’s retaliatory tariffs slashed U.S. agricultural exports to China in 2018 and 2019,