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USDA REPORTS RECORD AG EXPORTS IN 2022, VALUE UP BUT VOLUME IS DOWN
Feb. 9, 2023
Agri-Pulse reports:
The U.S. exported a record of about $196 billion worth of agricultural commodities in the 2022 calendar year, an 11% increase from 2021, according to new USDA data.
"When 2021 values came out, we were all super excited and wondered if we could ever top that, but in 2022 U.S. ag exports blew previous records out of the water," said Veronica Nigh, senior economist for the American Farm Bureau Federation.
While the value of ag exports rose in 2022, the volume did not. That dropped by about 6% from 2021, said Nigh.
"In soybeans, we saw that 26% increase in value, but by volume, experts only increased by 8%," she said. "Now for some products like rice, we saw a 27% decline in export volumes; corn had an export volume reduction of 16%, and wheat, because of those high prices around the world, a decline in volume of 13%."
Take note: The value and volume of dairy exports both set record highs in calendar year 2022, according to the U.S. Dairy Export Council. The U.S. exported $9.6 billion worth of dairy, a 25% increase from 2021 and the first year ever when exports rose above the $9 billion mark. The U.S. shipped 2.4 million metric tons to foreign buyers, a 5% increase over 2021.
"We've had three consecutive years of record U.S. dairy exports while facing some of the strongest dairy export headwinds that we've ever seen," said USDEC President and CEO Krysta Harden.
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