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India is the world’s most populous country and boasts one of the fastest growing economies in the world. As Indian households continue to reach higher levels of consumer spending, imported agricultural products are becoming more accessible to a larger number of people.

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. exporters can find ample opportunities in the Iberian Peninsula. Spain is the third-largest European Union (EU) destination for U.S. agricultural products, with Portugal ranking 11th. In 2021, the United States exported $1.6 billion of agricultural products to Spain, or 15 percent of total U.S. agricultural exports to the EU. The United States held a 4 percent market share of Spain’s agricultural imports and 2 percent market share in Portugal, behind other EU member states as a group and Brazil.

USDA estimates and forecasts for cotton supply and demand are on an August-July marketing year (MY) for all countries, while estimates published by many governmental or private groups in other countries are based on local MYs. The local MY for India is October-September.

South Asia, which includes Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka, accounts for 24 percent of the world’s population, with 1.84 billion people in 2019.

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

Mexico is the second-largest export market of agricultural products from the United States. Over the last decade, U.S. agricultural exports to Mexico grew 48 percent to $19.1 billion.

U.S. exporters who want to enter or expand in India’s market have an array of opportunities available due to the country’s growing population and increasing demand for food and agricultural goods.

Vietnam’s demand for raw cotton has risen steadily for six years, with August-to-January (Marketing YTD) imports at their highest levels ever.

India offers promising export growth prospects for U.S. agriculture with a large and rapidly expanding middle class, rising disposable incomes and shifting consumption patterns...

At a combined $23.8 billion, China and Hong Kong represent 18 percent of U.S. agricultural exports to the world, up from 10 percent just a decade ago.

Over the past decade, the United States' agricultural exports to China have risen sharply, propelling China into its position as the fastest-growing and highest-value export destination...