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U.S. ag exports win some, lose some

Article-U.S. ag exports win some, lose some

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Export value increases 11% but overall volume decreases 6%.

U.S. agriculture posted its best export year ever in 2022 with international sales of U.S. farm and food products reaching $196 billion, Agriculture Secretary Tom Vilsack announced Friday. Final 2022 trade data released by the Commerce Department showed that U.S. agricultural exports increased 11%, or $19.5 billion, from the previous record set in 2021.

“This second consecutive year of record-setting agricultural exports, coupled with a record $160.5 billion in net farm income in 2022, demonstrates the success of the Biden-Harris Administration’s efforts to create new and better markets for America’s agricultural producers and businesses,” Vilsack said. “We’re strengthening relationships with our trading partners and holding those partners accountable for their commitments. We’re making historic investments in infrastructure to strengthen supply chains and prevent market disruptions. We’re knocking down trade barriers that hamper U.S. producers’ access to key markets. And we’re continuing to invest in export market development programs, partnering with industry to bring high-quality, cost-competitive U.S. products to consumers around the world.”

Despite the 11% increase in value from 2021, American Farm Bureau Federation (AFBF) said the latest set of numbers didn’t hold all good news for America’s farmers and ranchers as overall export volume decreased by 6%. Additionally, imports of agricultural goods increased by $28 billion, creating a trade deficit for 2022.

“It’s encouraging to see the value of America’s agriculture exports increase, but America’s farmers and ranchers still face challenges from the weather and competition from other countries,” said AFBF President Zippy Duvall. “The 2022 agricultural trade deficit demonstrates that there is more to be done by the administration. The enforcement of current trade agreements and pursuit of new trading partners will enable America’s farmers to meet the growing needs of families here at home and abroad.”

Still, the value of sales increased in all of the United States’ top 10 agricultural export markets – China, Mexico, Canada, Japan, the European Union, South Korea, Taiwan, the Philippines, Colombia and Vietnam, with sales in seven of the 10 markets (China, Mexico, Canada, South Korea, Taiwan, the Philippines and Colombia) setting new records.

“While we remain committed to our established customer base around the world, we are also setting our sights on new growth opportunities in places like Africa, Latin America, the Middle East and Southeast Asia. Overall, there were 30 markets where U.S. exports exceeded $1 billion in 2022 – an increase from 27 markets in 2021 – demonstrating the broad global appeal of American-grown products,” Vilsack noted.

The top commodities exported by the United States in 2022 were soybeans, corn, beef, dairy, cotton and tree nuts, which together comprised more than half of U.S. agricultural export value. International sales of many U.S. products – including soybeans, cotton, dairy, beef, ethanol, poultry, soybean meal, distilled spirits and distillers’ grains – reached record values.



TAGS: Marketing
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