The U.S. Department of Agriculture said the country’s agricultural exports in the third quarter of fiscal 2012 will reach $134.5 billion, the second-highest level on record and $3.5 billion greater than the previous forecast.
“Since 2009, USDA has aggressively worked to expand export opportunities and reduce barriers to trade, helping to push agricultural exports to historic levels year after year.,” said Agriculture Secretary Tom Vilsack in a statement.
“In the latest forecast, the overall pace of exports is surging, led by a 5.1-million-tons increase in the volume of bulk exports over the February forecast. Consumer-oriented products in particular are soaring through the first six months of the fiscal year, up 15 percent over the first 6 months of 2011,” Vilsack said.
The USDA expects continued high export performance of U.S. wheat and soybeans, in addition to rising volumes of horticultural (particularly tree nuts) and livestock products.
“Moreover, exports to Canada and Mexico are both forecast up this quarter to new records, respectively, while exports to China are up $1.5 billion due to demand for cotton, pork, dairy, poultry, and tree nuts,” Vilsack said.
The latest export forecast data is available on the Foreign Agricultural Service’s Website under the Quarterly Agricultural Export Forecast link.
U.S. ag exports in 3Q to hit $134.5 billion
