U.S Almonds To Benefit From New U.S China Trade Deal

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Julie Adams, vice president of the Almond Board of California, said the agreement is good because it helps avoid further market uncertainty and that it includes a commitment to allow purchases of almond hulls for feed.

She said China imported 16,500 metric tons of California almonds worth $99 million in 2017 which increased to 28,537 metric tons worth $163.7 million in 2019. She said Chinese companies want more almonds and a reduction in tariffs would help that.

China promised to buy billions of dollars more in agricultural products from US farmers as part of a “phase one” trade deal signed Wednesday — but the commitments don’t go much further than making up for what was lost during the trade war. 

Agriculture exports to China plummeted when the trade war started in 2018, falling by about $21 billion. They edged up a bit last year, but remained far below the 2017 level. 
The agreement stipulates that China will make purchases far in excess of what it bought in 2017, totaling $32 billion over the next two years. It provides for $12.5 billion in 2020 and $19.5 billion in 2021.

Read our interview with the President of the Almond Board of California in our next edition.

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