Economic Watch: Trade frictions not to dampen China's key agricultural supply, trade: official

Source: Xinhua| 2019-06-12 14:55:37|Editor: Liangyu
Video PlayerClose

天长地久论坛 www.wulianbi.cn BEIJING, June 12 (Xinhua) -- China's supply and trade of major farm produce will not be challenged much despite the escalating trade tensions triggered by the United States, a Chinese agriculture official said.

Higher custom duties on major American farm produce will not result in inadequate supply, and key Chinese farm produce could be exported elsewhere, said Han Jun, vice minister of agriculture and rural affairs in an interview with Xinhua.

U.S. FARMERS ARE LOSING CHINESE MARKET

As one of the most important export markets of U.S. agricultural products, China imported farm produce worth 24 billion U.S. dollars in 2017.

From July 2018 to March 2019, U.S. agriculture exports decreased to 6.25 billion dollars, about 70 percent lower year on year, due to trade frictions. Exports of major products including soybeans, grains and cotton went down 87 percent, 95.5 percent and 43.6 percent year on year, respectively.

Responding to U.S. tariff hikes on Chinese products, China has imposed additional tariffs on American farm produce since July 2018. "Almost all U.S. agricultural products have been imposed with additional tariffs as a countermeasure against the trade conflict started by the U.S.," said Han.

U.S. farmers cannot afford to lose the China market, as it would be rather difficult for them to retrieve their market share if other countries take it up, noted Han.

He also emphasized that the bilateral agricultural trade will not return to normal until the U.S. removes all additional tariffs.

CHINA WELL PLACED TO SECURE KEY FARM PRODUCE SUPPLY

The decline of U.S. exports does not affect China's major farm produce imports much as the country can secure supply with abundant policy tools through multiple supply channels.

The country could broaden import channels such as increasing soybean imports from Russia and South America.

China could also increase domestic output by enlarging planting areas and nurturing new species while decreasing consumption by using alternative oil production plants and introducing low-protein feed.

Han also noted that China's demand for soybeans decreased since last year, adding that China is well placed to keep the balance between soybean demand and supply and maintain the stability of the market.

U.S. MARKET NOT THE ONLY CHOICE FOR CHINESE AGRICULTURAL PRODUCTS

According to Han, China's exports of advantageous farm produce including aquatic products, fruits and vegetables declined in the fourth quarter of 2018 and the first quarter of 2019 due to U.S. tariff hikes.

The total agricultural exports to the U.S. decreased 8.8 percent year on year with aquatic products down 6.6 percent, fruits down 19.8 percent and vegetables down 16.4 percent, respectively. The exports may drop further since the U.S. increased the tariff hike from 10 percent to 25 percent.

Faced with the situation, Han explained that China could turn to other markets for agricultural export. On one hand, the country could exploit the potential of traditional markets including the ASEAN, Japan and the European Union. On the other hand, it could strengthen trade cooperation with Belt and Road countries to create new substitute markets.

Meanwhile, Chinese enterprises should be encouraged to expand the domestic market to meet the needs of high-quality aquatic products, fruits and vegetables.

KEY WORDS:
EXPLORE XINHUANET
天长地久论坛
010020070750000000000000011100001381370161
游戏电台 | 广州代孕 |
  • 中西医结合专业的开拓者沈自尹院士去世 享年91岁_敞的拼音
  • (两会受权发布)李克强谈做好今年政府工作要把握好的几个关系_行书钢笔字帖欣赏
  • “大国工匠”谭文波:为祖国石油事业“死磕”到底_呼和浩特职业技术学院
  • “洞察”號首次“聽”到火星微震_bleecker
  • 江苏宜兴太华早春茶开采 首罐茶拍出10万元_学网
  • 儋州动工修复峨蔓上下浦村潟湖 再现湿地景观_凯撒大帝4秘籍
  • “十三五”期间南宁计划投入资金73亿元建设电网_8号文
  • 【健康情报局】什么是房颤_约翰塞纳出场音乐
  • 合肥中院:电商消费纠纷案件增长明显职业打假人诉讼增多_我的失忆女友
  • 安徽摧毁一跨省制售弹药链条_cibi
  • 治理“小眼镜”应上升为全民行动_诺格弗格
  • 中国外语教育发展论坛在京举行:回顾40年发展历程_凌天佣兵团
  • 《哈哈农夫》今日开播 杨超越贾乃亮争当“大哥”_联勤宾馆
  • 罗平烺、杨兴国谈创先争优 _哪个牌子的笔记本好
  • 奉节脐橙搭上新零售快车 一个多月销售100万件脐橙_雪弗兰乐驰