USDA Several Commodities Reported Export Growth In FY22
The main exported American commodities, wheat, corn, soybeans and cotton, saw exports increase very nicely over the past fiscal year, but those were not the only crops to enjoy eye-popping numbers in Fiscal Year 2022.
"Dairy product exports were up 25% in terms of value and FY22 it was just over $9 billion and then FY21 it was $7.3 billion," noted USDA economists and trade tracker Dylan Russell. "We also saw increases in red meats and products as well as poultry meats and products. Red meats were up about 10% in terms of export value. And poultry meat and products were up 16%.
In addition, Russel said vegetable oil exports jumped by 28% while ethanol exports increased by 67%. The only commodities that saw export value declines were rice, falling by 10%, and tobacco, off year-over-year by 27%.
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