U.S. ag exports reach $140.5b in FY 2017

The country’s agricultural exports totaled $140.5 billion for fiscal year 2017, ending Sept. 30, an increase of $10.9 billion over the previous fiscal year, according to the U.S. Department of Agriculture (USDA).    Agricultural exports from the United States totaled $140.5 billion for fiscal year 2017, ending Sept. 30, an increase of $10.9 billion over the previous fiscal year, according to recent data from the U.S. Department of Agriculture (USDA).
   China was the largest export market for U.S. agricultural goods, totaling $22 billion, USDA said. Canada was the second largest U.S. export market at $20.4 billion, while Mexico imported $18.6 billion worth of U.S. agricultural goods. Japan was the fourth largest export market at $11.8 billion. The remainder of the top 10 overseas markets for U.S. agricultural goods include the European Union ($11.6 billion), South Korea ($6.9 billion), Hong Kong ($4 billion), Taiwan ($3.4 billion), Indonesia ($3 billion) and the Philippines ($2.6 billion).
   U.S. bulk commodity exports overall set a volume record at 159 million metric tons, up 11 percent from fiscal year 2016, with a value of $51.4 billion, according to USDA figures.
   Soybeans was the top U.S. bulk agricultural export at 60 million metric tons, with a value $24 billion. The value of cotton exports increased 70 percent to $5.9 billion, while wheat exports rose 21 percent to $6.2 billion and corn exports bumped up 6 percent to $9.7 billion.
   Meanwhile, U.S. dairy exports during fiscal year 2017 grew 17 percent to $5.3 billion, beef exports were up 16 percent to $7.1 billion, and pork exports increased 14 percent to $6.4 billion. Horticultural product exports rose 3 percent to about $33.9 billion, largely driven by an 8 percent increase in tree nut exports, which reached $8.1 billion. Processed food and beverage exports rose 2 percent to $39.2 billion.