The domestic market for trona is flat. And, although export growth in the past has been strong, with half of trona exports going to Asia, I expect these exports will slow this year. Thus, the turmoil in Asia, along with a slump in demand, will likely have a negative impact on the trona market. Finally, the direct effect of Asian turmoil on Wyoming manufacturing is a concern to many in Wyoming. However, manufacturing is a small part of the Wyoming economy, and only about 6 percent of manufacturing is shipped to countries in Southeast Asia.
Agricultural firms are certainly concerned about weakening demand for U.S. food exports.
Forty percent of U.S. agricultural exports go to Asia. These countries have been important buyers of added-value food products, the highest margin and fastest growing portion of the world food market. For example, about 50 percent of wheat is exported, and one-third of the exports go to Asia. There have been some reports from business people in this region that orders from South Korea and Thailand have been canceled. And some companies have been hesitant to accept orders in the Asian market for fear that they will not be paid.