Browse Data and Analysis

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.

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.

Taiwan is the seventh-largest market for U.S. agricultural exports. Taiwan has vibrant urban communities and a highly developed e-commerce industry that provides convenience for customers, all which support Taiwan’s continued demand for safe and high-quality food products. In addition, evolving consumption trends suggest customers are increasingly looking for western-style food options that cannot be locally sourced. Since domestic food production alone cannot match increased food demand, agricultural imports will continue to play an important role in Taiwan’s retail food economy. While trade barriers exist and competition intensifies, opportunities to increase U.S. agricultural exports remain promising.

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.

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

The significant rise of dog- and cat-owning households in East Asia presents an opportunity to increase the U.S. exports of pet food.

China’s announcement of tariff exclusions following the Phase One agreement had an immediate impact on U.S. sorghum exports mainly because of the sheer volume China purchases and its effect on prices.

Taiwan is an important trading partner and offers many opportunities for sales of U.S. food and agricultural products.