EnA trade delegation from Mexico visiting China this week hopes to sign deals to increase exports of avocados, bananas and sorghum, Reuters reports. The timing may prove challenging given the rapprochement between the U.S. and China, including the cancellation of the latter’s trade investigation of American sorghum imports as outlined in Panjiva research of May 17. It also comes as NAFTA talks have faltered, including concerns over the handling of trade cases relating to agricultural products.
Panjiva data shows exports of the three crops have soared 16.4% on a year earlier in the 12 months to April 30, reaching an aggregate $3.26 billion. That was led by a 16.5% rise in exports of avocados, which accounted for 92.0% of the total, while banana shipments rose 15.3% and accounted for all but 0.02% of the remained (sorghum exports be minimal).
Source: Panjiva
Exports to China have so far been minimal, with just $39 million of avocado exported in the 12 months to April 30, or 1.2% of the total for the three products. The need to diversify away from the U.S. meanwhile is demonstrated by it accounting for 72.2% of all exports.
Source: Panjiva
