World Trade Month: Corn’s Top Markets, Japan

May 15, 2020

World Trade Month: Corn’s Top Markets, Japan

May 15, 2020

Key Issues:Trade

The export of corn and corn products is vital to the nation’s economy and NCGA has deeply rooted policy of working to eliminate barriers to trade and supporting market development. Exports of U.S. corn and co-products provide critical support across the economy, offering billions in direct and indirect economic benefits to farmers, rural communities and the nation.

 

This month, NCGA is celebrating World Trade Month by highlighting the top export markets for U.S. corn. Last week we featured Mexico, the top buyer of U.S. corn. This week’s focus is corn’s number two market – Japan.

 

Japan has been a strong trading partner and is now the second largest purchaser of U.S. corn, buying more than 13 million metric tons (MT) of corn during the September 1, 2018 - August 31, 2019 marketing year. Japan is also a high-value market for the U.S. livestock industry, the top purchaser of U.S. beef and beef products and number three purchaser of U.S. pork and pork products, therefore also a major purchaser of U.S. corn through exported meats.

 

Last October, NCGA joined leaders of other farm and commodity groups at the White House to commemorate the signing of the U.S.-Japan Trade Agreement. The newly minted agreement will provide stability in the corn market and reaffirms and builds upon our strong trading relationship with Japan.

 

The U.S. Grains Council has worked in Japan for more than 50 years, helping local stakeholders grow the Japanese feed, livestock and starch industries. Today, in addition to being the second largest market for U.S. corn, Japan is now the number three U.S. barley buyer and number four U.S. sorghum buyer.

 

You can learn more about our international trade and our trading relationship with Japan by visiting NCGA’s partners, the U.S. Grains Council.