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USDA projects ag exports up $1 billion in 2017

Fiscal year 2017 agricultural exports are projected at $134 billion, up $1 billion from the August forecast, largely due to expected increases in dairy and livestock by-product exports, according to the U.S. Department of Agriculture’s Economic Research Service released Nov. 30.

While dairy and livestock are projected to increases the forecast for horticultural products is unchanged at $34 billion. Fresh fruit and vegetable exports are also estimated to remain unchanged at $6.8 billion, with top markets including Canada, Europe and Japan.

U.S. agricultural imports in fiscal year 2017 are forecast at $112.5 billion, down $1 billion from the August forecast. Reduced imports of horticultural, sugar and tropical products are leading the forecast decline. As a result, the U.S. agricultural trade surplus is expected to increase to $21.5 billion in fiscal 2017.

source: hpj.com

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