Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / China US trade tensions

    Trade war has impact on Canada's soybean farmers

    By NA LI in Toronto | China Daily USA | Updated: 2018-09-21 00:10
    Share
    Share - WeChat
    Inset: Soybeans grow in a field outside Wyanet, Illinois in July. Above: Soybean farmer Raymond Schexnayder Jr. holds soybeans from his farm outside Baton Rouge, in Erwinville, Louisiana. [Photo/Agencies]

    The US-China trade war could be a double-edged sword for Canadian farmers, especially those growing soybeans.

    According to Canadian media, more Chinese ships are showing up at Canadian ports to buy soybeans. Several cargoes of soybeans have been sold off the West Coast to China, and much of that will be from Winnipeg in Manitoba, one of the top growers of Canadian soybeans.

    China, the world's largest consumer of soybeans, is a crucial market for the US.

    Soybeans are the US' top agricultural export to China, accounting for about 60 percent of a total $20 billion in agricultural products sent to China.

    China, also the largest expert destination for Canadian producers, took nearly 40 percent of the 4.96 million tonnes shipped internationally last year.

    China, however, has stopped buying the crop from the US after the Trump administration slapped tariffs on Chinese products. Instead, China is looking to source supplies elsewhere, such as South America and Canada.

    Ontario is another beneficiary of the trade war between the two economic giants. The province grows nearly half of Canada's soy crop — 3.8 million tonnes out of 7.7 million. Of that, nearly 5 million is destined for export, in particular to China, which has grown from 800,000 tonnes in 2012 to almost 2 million in 2017. That figure is expected to increase continuously with the escalating trade war.

    But according to Markus Haerle, chair of the Grain Farmers of Ontario (GFO), the infrastructure has limits shipping out of Pacific Coast terminals, which means Canadian farmers can't easily fill the gap left by US soybean exports to China.

    The trade war also has led to a drop in US soybean prices. Soybeans on the Chicago futures market have dropped from $10.40 per bushel in May before US President Donald Trump launched the trade war with China to about $8.50 per bushel recently.

    With Canadian prices driven by the country's southern neighbour, the fallout is being felt not just in Wisconsin and Iowa but in Manitoba and Ontario, too.

    Meanwhile, the Trump administration is reportedly setting aside up to $12 billion in assistance to American farmers, while Ottawa hasn't offered any aid to the indirect victims of roiled global markets. Canadian producers are now competing against subsidized US farmers.

    Haerle pointed out that if the government doesn't have a plan to aid the vulnerable farmers, the GFO would like to quickly ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the successor agreement to the trade pact the US abandoned early in Trump's tenure.

    "Ratifying the CPTPP would let Canadian farmers start trying to develop new export markets," said Haerle. "That's where Canada has a chance. It gives us the foot in the door in those marketplaces where others will have to fight for it."

    Contact the writer at renali@chinadailyusa.com

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    亚洲日韩在线中文字幕第一页| 狠狠干中文字幕| 欧美日韩中文字幕| 无码A级毛片免费视频内谢| 中文字幕无码一区二区三区本日| 无码人妻丰满熟妇区BBBBXXXX| 99久久无码一区人妻a黑| 亚洲欧美中文日韩V在线观看| 国产无码区| 成人无码WWW免费视频| 无码中文字幕日韩专区视频| 中文字幕丰满伦子无码| 亚洲av无码一区二区三区人妖| 夜夜添无码一区二区三区| 亚洲av中文无码乱人伦在线播放| 人妻少妇偷人精品无码 | 惠民福利中文字幕人妻无码乱精品| 中文字幕av高清有码| 亚洲中文字幕无码一去台湾| 人妻丰满熟妇av无码区不卡| 中文字幕丰满乱孑伦无码专区| 中文字幕无码无码专区| 无码AⅤ精品一区二区三区| 无码AV中文一区二区三区| 精品无码成人片一区二区98| 中文字幕夜色资源网站| 中文在线资源天堂WWW| 日韩少妇无码一区二区三区| 日韩人妻无码精品久久免费一| 中文无码字慕在线观看| 久久男人中文字幕资源站| 亚洲中文字幕无码一区| 一区二区三区无码高清| 国产无码网页在线观看| 国产免费黄色无码视频| 国产精品午夜无码AV天美传媒| 成年免费a级毛片免费看无码| 亚洲国产精品无码AAA片| 人妻丰满熟妇AV无码区HD| 无码H黄肉动漫在线观看网站| 最近中文国语字幕在线播放|