The U.S. is on its way to another record year in agricultural exports. Agriculture Secretary Tom Vilsack tells Brownfield that, by the end of this fiscal year on September 30th, exports will have set another new record.
“(A record) 152.5 billion dollars of ag exports, as well as a trade surplus record of 43 billion dollars as far as selling more than we purchase in terms of ag products,” Vilsack says.
There are several reasons for the strong export numbers, says Vilsack.
“I think it’s a quality product at an affordable price—it’s a reliable supply—and I think it’s aggressive promotion that USDA is engaged in with commodity groups and others to basically make sure the world knows about American agriculture.”
Ag exports for fiscal year 2015 are currently projected at 144.5 billion dollars, down eight billion dollars from the revised forecast for fiscal 2014. The declines are due to lower values of soybeans and soybean meal, and lower volumes and prices for other grains.