NZ Red Meat Sector Watches US Tariff Decision as Sheepmeat Exports Boom
New Zealand red meat exports are booming but a pending decision in the White House, Washington D.C., could dent sheepmeat earnings.
To make back the lost ground, the US has gone and pinched market share off the Aussies, much to their chagrin.
Indonesia has signed an agreement to import around 2 million tonnes of wheat from the United States, equal to roughly 17% of its annual wheat demand.
Indonesia imports around 10-11.5 million tonnes of wheat per year, and Australia regularly supplies 4-5 million tonnes in strong production seasons.
Aussie Ag website Episode 3 opines, "Our concern is the precedent it sets. If other countries begin buying US agricultural products to avoid tariffs, more of the global grain market could become politically allocated rather than price-driven. Trump is making American farmers great again, but at the expense of our producers."
