“During the first three quarters of 2022, U.S. beef exports to Korea, Japan, China/Hong Kong, and Taiwan, were a record $6.6 billion,” a a 22% increase.
U.S. beef exports to East Asia in 2022 are again on record pace after a record year in 2021. A new USDA report shows retail food prices increased 8.9% in the first seven months of 2022.
U.S. beef exports soared to another new value record in March, totaling almost 126,300 metric tons, 1% higher than last year and the third-largest on record.
U.S. beef exports greatly exceeded previous volume and value records in 2021, surpassing $10 billion for the first time. Lawmakers have introduced the Connect Unserved Americans Act.
The USDA estimates China will import 24 Million Metric Tons of corn from all over the world this year, with some forecasting it could even exceed 30-million.