Friday, July 22, 2011

China Leads the way in U.S. Agricultural Exports to BRIC Nations

With the increase in feed consumption, U.S. crop exports to BRIC countries have grown, especially to China. China has emerged as the leading BRIC destination for U.S. bulk commodities and crops. The value of U.S. bulk commodity exports to China has soared over recent years. The annual value of these exports averaged less than $2 billion from 1990 to 2002, rose to about $4 billion in 2005, and reached $12.3 billion in 2010.

China accounted for more than 95 percent of all U.S. bulk commodity and crop exports to BRIC countries over the past five years. United States soybean exports have led bulk commodity trade with China, surging nine-fold during the past decade to almost $10 billion in 2010. The value of U.S. feed grain exports to China rose to almost $900 million in 2010, well above the annual average of $50 million at the beginning of the decade.