Forecast for agriculture exports up $6 billion
Aug. 26, 2016
by Josh Sosland
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Agricultural exports for fiscal 2017 were forecast at $133 billion.
WASHINGTON — “These numbers once again demonstrate the resiliency and reliability of US farmers and ranchers in the face of continued challenges,” said Secretary of Agriculture Tom Vilsack in response to revised forecasts of US agricultural exports.
Agricultural exports for fiscal 2017 were forecast at $133 billion, up $6 billion from the most recent forecast and up from a revised $126 billion in fiscal 2016. The agricultural trade surplus was forecast at $19.5 billion, up 40 percent from fiscal 2016.
While grain exports were not highlighted as an area of strength for fiscal 2017, exports of oilseeds and products are projected to expand, together with cotton, livestock, dairy and poultry. China is projected to once again be the largest US export market in fiscal 2017, surpassing Canada.
Vilsack said exports account for 20 percent of farm income and support more than 1 million jobs.