ag imports

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

Projected US Ag trade continues to reach record numbers. USDA Chief Economist Seth Meyer said the 2nd quarter trade forecast indicates: "The current year we're in now: exports estimated at a record $191 billion." Up by $7.5 billion from February's estimate, fueled by across-the-board rises in exported commodities ...

On the trade front, the USDA is out with the latest numbers for the first eleven months of calendar year 2021. "Agricultural exports through November of 2021 were $160.6 billion; a 20% increase from 2020," noted USDA economist, Bart Kenner, adding for the first eleven months of last year, wheat exports were running 16% ahead of the same time frame in 2020, and even more impressive: &quo

When it comes to the top 30 Ag products being imported to the United States during the first 10 months of this year, "We see almost no negative signs; it's all increasing," noted USDA economist and trade tracker, Bart Kenner. He added many of those products are increasing, compared to last year's numbers, but double digits ...