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The growing risk for American agribusiness today is that much of the market share lost over the year will be hard or impossible to win back anytime soon, thereleased on Wednesday. This is mostly due to long-term contracts that are often signed between buyer and seller, depending on the commodity. The takeaway from the report is that U.S. farmers have to become less dependent on China and just hope for the best with regards to those clients staging a comeback at some point in the future.
Agricultural exports rose 1% to $140 billion in 2018, but that is compared with a 3% increase in 2017. Exports were down 5% year-on-year during the first seven months of 2019. They would have been better if not for what has amounted to an embargo on American soy by Beijing. President Donald Trump with Japan's Prime Minister Shinzo Abe. Washington needs a trade deal with Japan to supplement Trump's killing of the Transpacific Partnership. It will be good for American farmers, the Boston Consulting Group says.Under President Trump, the U.S. has been behind the eight ball in signing free trade agreements that would help farmers.
Farmers have been getting aid money from Washington in order to make up for lost China sales. But on a positive note, last year saw many of them finding new markets anyway.
EVERlasting..like the Boxing Gloves~
This is could be devastating for the American farmers. But wait didn’t the farmers vote for Trump? “...careful what you wish for...”
Yes because when buyers go elsewhere they aren’t coming back.
This was totally unnecessary. A result of a president who doesn’t know what he’s doing.
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Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »