US Ag Exports Down, Imports Up
U.S. agricultural exports in fiscal year 2024 are expected to decline while imports rise, the Agriculture Department’s Economic Research Service said in a report released last week.
U.S. agricultural exports in fiscal year 2024 are projected at $172 billion, down $5.5 billion from the revised forecast for FY 2023. This reduction is largely driven by lower exports of soybeans, soybean meal, and dairy products.
U.S. agricultural imports in FY 2024 are forecasted at $199.5 billion, $3 billion higher than the revised FY 2023 estimate due to higher imports of horticultural and livestock products and stabilizing global prices.
U.S. agricultural exports in fiscal year 2024 are projected at $172 billion, down $5.5 billion from the revised forecast for FY 2023. This reduction is largely driven by lower exports of soybeans, soybean meal, and dairy products.
U.S. agricultural imports in FY 2024 are forecasted at $199.5 billion, $3 billion higher than the revised FY 2023 estimate due to higher imports of horticultural and livestock products and stabilizing global prices.