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Chinese ag consulting firm says China can fulfill its purchase pledge

Some analysts have questioned whether China will be able to fulfill its pledge to purchase 40 to 50 billion dollars of U.S. ag products annually under the phase one trade agreement.

However, a top China-based ag consulting firm says reaching that level will not be a problem, predicting China’s purchases could top 41 billion dollars in the first year of the agreement.

Shanghai JC Intelligence (JCI) says China could buy nearly 19 billion dollars, or about 45 million metric tons, of U.S. soybeans. It also projects about two billion dollars each of sorghum, corn and distillers grains, and one-and-a-half billion dollars of wheat.

Purchases of pork products are estimated at just over two billion dollars, Poultry and chicken feet purchases are also projected around two billion.

The report says cotton, fish, ethanol and nuts are also on the table.  However, there is no mention of possible beef or dairy purchases in various media reports on the JCI numbers.