Downturn in Asia
Strong demand in Europe and a slowdown in Asia drove US exports in the first month of the season. At 41 million pounds total exports range 9% lower than last year. Although shipments slumped by 43%, China remains the most important export destination, followed by Germany where shipments nearly tripled and Spain with a noted rise of 33%. Domestic shipments have also declined by 4.5% to 20 million pounds as compared with last year.
Total shipments range 7% lower at 61 million pounds. As 2022/2023 carry-over supplies stand at 164 million pounds