Port of Oakland agricultural exports rebound, up 12pc despite new tariffs
CONTAINERISED agricultural exports are rebounding in the Port of Oakland up 12 per cent year on year in the first four months of 2019 despite an ongoing trade war
CONTAINERISED agricultural exports are rebounding in the Port of Oakland up 12 per cent year on year in the first four months of 2019 despite an ongoing trade war.
The port also reported that ag exports to China rose five per cent, despite that nation's tariff standoff with the US, a welcome trend in Oakland's where its worldwide ag exports fell 10 per cent year on year in 2018.
'Our performance shows there's continued demand for US. farm goods and growers are resourceful when it comes to finding markets for their produce,' said Oakland maritime director John Driscoll.
Through April, the port said it had exported the equivalent of 108,724 TEU loaded with farm products, up 11.7 per cent year on year.
According to port data, most of those shipments went to Asia and the average value of the ag export box was US$36,000, up 14.2 per cent year on year.
This was ascribed to growth of Asia's middle class. As populations gain purchasing power, they turn to US farm goods renowned for high quality, port officials said.
Asian markets outside China accounted for most of the growth in Oakland agricultural exports. Among the leading destinations: Taiwan, Vietnam, South Korea and Japan.
The port said US producers have turned to those destinations since China imposed tariffs on American farm goods, making them more expensive for overseas buyers.
Agricultural commodities account for about 37 per cent of all international exports shipped from Oakland. The farm goods include rice to dried fruits, nuts and refrigerated beef. Eleven per cent of Oakland's ag shipments go to China.