U.S. ag exports lower in ’15, but still third highest year

The USDA is now projecting fiscal year 2015 agricultural exports at $140.5 billion which is $12 billion lower than FY ’14 due to the strength of the dollar and increased restrictions on poultry exports.

However it is still the third-highest year on record. The USDA’s forecast was $500 million lower for livestock, poultry and dairy exports. This was partly due to increased trade restrictions for poultry.

Grain and feed exports were increased by $600 million with record exports of grain sorghum and increased exports of feed and distiller’s dried grains. Secretary of Agriculture Tom Vilsack said, “The most recent forecast also underscores how free trade agreements have benefited the American economy through farm goods. In the combined 20 countries where the United States has free trade agreements, agricultural exports have remained relatively steady so far this fiscal year. Exports to countries where the United States lacks the assurances offered by trade agreements have declined this year.”

TAGS: Business
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