ag imports

The USDA is out with the final Ag trade numbers from December, closing the books on 2022.  USDA’s Bart Kenner said December was a record December for exports $17 billion worth of sales.  He said that puts calendar year 2022 export sales at a record high $196 billion beating 2021's record by $20 billion, but he noted, “most of the gains in exports came from unit value increases from higher prices a

According to ERS, the value of U.S. agricultural imports grew an average of 4% a year between fiscal years 2012 and 2022.  Total U.S. agricultural imports rose from $139 billion to $194 billion, with growth concentrated in select commodity groups.  Horticu...

The USDA released its new Ag trade forecast Tuesday and the main takeaway, is the revised export number.  USDA chief economist Seth Meyer said analysts were already anticipating an Ag export value decline since 2022 set a new record high for U.S. export...

The National Milk Producers Federation says the temporary, short-term lifting of restrictions on infant formula imports to address the rare infant formula shortage is a positive move to fill the supply gap.   “We did not oppose the just-passed Bulk Infant Formula to Retail Shelves Act given its targeted volume and limited time frame,” said NMPF President and CEO Jim Mulhern. “Those guardrai... Rea

The value of all U.S. exports has grown at an average annual rate of 6% since 2002 and reached a record high of $1.4 trillion in fiscal year 2021.  The USDA said while the bulk of U.S. exports consists of industrial supplies and capital goods, agriculture’s share of total U.S. exports has ...

USDA’s preliminary fiscal year 2023 trade forecast is marked by huge uncertainty, according to Chief Economist Seth Meyer.  USDA’s initial export forecast for 2023 is down roughly $2.5 billion dollars on lower volumes of beef, cotton, and sorghum, while imports are up $5 billion dollars for a new record.  But Meyer said the ...

Roughly one month remains on the Fiscal Year, and when the trading books for FY2022 close they will show a strong pace of growth when it comes to Ag exports.  USDA chief economist Seth Meyer said he expects those numbers to be very strong by the end of September.   “...

U.S. imports of honey continue to rise as American production declines.  New data from Economic Research Service shows imports have exceeded domestic honey production since 2005 and accounted for 74% of total U.S. honey supplies in 2021.  Over th...

The latest Ag trade numbers come from April, a month in which the United States exported $17.6 billion worth of Ag products; imported almost the same amounts of foreign products. "It was the largest value of agricultural exports and agricultural imports for any other April on record," USDA Economist Bart Kenner said, adding for the first seven months of this fiscal year, October through

The latest USDA Ag trade forecast points towards record exports for fiscal year 2022. Yet while there was a significant increase in exports from the previous quarterly forecast, also rising from the previous report: Ag imports. "Upward revision of imports and increase in year over year is the same countries we're talking about increasing exports, with an overall increase of both import and e