Why Does The Ag Trade Deficit Continue To Grow?

While the dollar value of U.S. food and Ag exports is falling.  “The import value has increased steadily over time and continues to do so,” said USDA economist Bart Kenner.  He added Ag exports are running about 3% below last year at this time, while the value of foreign agricultural products coming into the U.S. is up by 5%.  He said there are several good reasons for those growing imports.

“Great purchasing power by the U.S. consumer and growing demand for products that are produced elsewhere year-round produce, specialized high value products, distilled spirits, fancy cheeses and wines.”

Kenner added the surge in imports and the reduction of exports is creating an Ag trade of over $27 billion and growing.

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