US ag exports heading toward new record high in 2022

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The U.S. exported about $49.2 billion really worth of ag commodities in the 1st quarter of 2022, a record for shipments in the initially a few months of a calendar year and location the pace for what could be an yearly document, in accordance to new details from USDA’s Overseas Agricultural Provider.

The details shows U.S. ag exports for the 1st three months of the yr are truly worth roughly $4.6 billion a lot more than in the initial quarter of 2021, which established a document for U.S. abroad revenue at $177 billion for the total 12 months. But due to potent exports and even more robust export values, the U.S. is on speed to surpass that.

U.S. soybean and corn exports are equally stronger this past quarter — many thanks in big part to solid profits to China — than the 1st quarter in 2021, but U.S. meat exports had been primarily potent from January as a result of March, according to details from FAS and the U.S. Meat Export Federation.

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“Global demand for U.S. beef has eclipsed just about anything I have observed in numerous yrs in the meat company,” claimed USMEF President and CEO Dan Halstrom. “While this momentum is fueled by mainstay marketplaces this kind of as South Korea, Japan and Taiwan, desire is also incredibly sturdy in China (and) Hong Kong and critical Latin American markets, while exports to the Center East have rebounded impressively.”

In accordance to USMEF, the U.S. exported 353,852 metric tons of beef value far more than $3 billion in the first quarter of 2022. That volume is a 6% improve from the very same time period past yr. But the value of the exported meat is enduring a 41% maximize around the initial quarter of 2022.

The U.S. saw beef exports to China, Hong Kong and Taiwan surge radically in the very first quarter. China and Hong Kong collectively imported 62,237 tons of U.S. beef, valued at $582.4 million. That is a 36% increase in volume and a 59% boost in price above the to start with quarter of 2021. The U.S. exported $227.2 million worth of beef to Taiwan — a 92% boost from the 1st 3 months of final 12 months.

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