WASHINGTON, D.C. (Reuters) — U.S. agricultural exports for fiscal 2014 hit a record US$152.5 billion, easily surpassing the previous high of $141 billion from last year.
“Agricultural exports have climbed 41 percent in value over the past five years,” said U.S. agriculture secretary Tom Vilsack.
“U.S. agricultural exports have increased in volume as well as in monetary value, which demonstrates an increasing global appetite for high-quality, American-grown products.”
The crop sector bounced back from the 2012 drought with bumper crops last year. U.S. grain and feed exports were up 16 percent on the year and soybean exports jumped 17 percent.
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Overall exports of major bulk products rose 14 percent on the year to $52.8 billion, and those of high-value products jumped five percent to $99.8 billion.
The U.S. Department of Agriculture in August cut $8 billion from its projection based on lower prices for soybean and soymeal exports and lower export volumes for corn and wheat.
The USDA forecasts a decline in export value next year to $144.5 billion, mostly reflecting lower commodity prices.
Final U.S. agricultural imports for fiscal 2014 were $114.8 billion, up five percent on the year, giving the nation an agricultural trade surplus of almost $38 billion.
