US ag exports heading toward new record high in 2022 | 2022-05-06

The U.S. exported about $49.2 billion worth of ag commodities in the to start with quarter of 2022, a history for shipments in the 1st three months of a year and environment the tempo for what could be an once-a-year history, in accordance to new information from USDA’s Foreign Agricultural Services.

The facts reveals U.S. ag exports for the initial 3 months of the year are worth approximately $4.6 billion more than in the 1st quarter of 2021, which set a document for U.S. abroad revenue at $177 billion for the entire calendar year. But due to strong exports and even much better export values, the U.S. is on pace to surpass that.

U.S. soybean and corn exports are equally more powerful this earlier quarter — thanks in big part to potent sales to China — than the initially quarter in 2021, but U.S. meat exports ended up specially powerful from January by March, according to info from FAS and the U.S. Meat Export Federation.

“Global desire for U.S. beef has eclipsed everything I have found in many a long time in the meat small business,” explained USMEF President and CEO Dan Halstrom. “While this momentum is fueled by mainstay marketplaces these types of as South Korea, Japan and Taiwan, demand from customers is also extremely powerful in China (and) Hong Kong and crucial 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 well worth a lot more than $3 billion in the initially quarter of 2022. That volume is a 6% increase from the similar time period past calendar year. But the value of the exported meat is dealing with a 41% increase over the first quarter of 2022. 

The U.S. observed beef exports to China, Hong Kong and Taiwan surge considerably in the to start with quarter. China and Hong Kong together imported 62,237 tons of U.S. beef, valued at $582.4 million. That is a 36% raise in quantity and a 59% improve in price over the initially quarter of 2021. The U.S. exported $227.2 million truly worth of beef to Taiwan — a 92% raise from the first 3 months of final calendar year.

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