SOURCE / ECONOMY
Agriculture exports in Q1 hit multi-year low amid COVD-19 pandemic
Published: Apr 28, 2020 06:43 PM

Aerial photo taken on March 22, 2020 shows the view of farms in Dangyang, central China's Hubei Province. Agriculture production was resumed in an orderly way in Dangyang. (Xinhua/Cheng Min)



China's agriculture ministry said on Tuesday that the exports of Chinese farm products were hit hard during the first quarter due to the onslaught of the COVID-19 pandemic, and warned that exports may be further affected in the second quarter.

Exports of Chinese agricultural products hit a multi-year low in first quarter, declining 5.6 percent year-on-year to $16.23 billion, according to Sui Pengfei, director of the ministry's international cooperation department.

Growth in imports was also slower than in previous years, registering an 8.9 percent increase from January to March to reach $37.08 billion, with sizable increases in meat and soybean imports, Sui told a press conference on Tuesday. 

Aquatic product exports were the hit hardest, down 18 percent from the same period last year and dropping to their lowest level since 2012, noted Sui.

Vegetable and tea exports also contracted slightly. 

Evaporating global demand, cancellations of trade fairs and increasing uncertainty in global agricultural produce trading are the main reasons behind the export contractions, Sui said. 

The ministry warned that the situation in the second quarter may deteriorate and exports may be further affected, but said it will utilize national policy to stabilize foreign trade and will step up diversification efforts.