China, Brazil elbow US out of the market
China, the main market for U.S. agribusiness exports in 2011, dropped down to the third position in 2012, according to USDA. The U.S. exports revenue to that country was affected by the reduction in the soybean exports, to US$25 billion, 14 percent less than the year before. The corn export remained stable in the period, growing 1 percent over the previous year to US$13 billion. U.S. soybean and corn exports have been reduced thanks to the increased exports from Brazil and Argentina.
In the opposite direction, the meat exports gained ground in the Chinese market, reaching US$29.2 billion, a 7 percent rise compared to the year before. Chicken meat exports reached US$5.8 billion, pork US$5.5 billion and beef US$4.9 billion.