U.S. agribusiness booms with over $174 Billion in global exports

By Farms.com

The U.S. agriculture sector celebrated a groundbreaking year in 2023, with exports soaring to $174.9 billion. This achievement highlights the sector's resilience and the effective strategies implemented by the USDA and the Administration to ensure American agriculture's robust presence in global markets.

Among the year's highlights were strategic trade wins, such as entering the Vietnamese market for grapefruit, enhancing ethanol exports to Japan, and the removal of various retaliatory tariffs by India. These accomplishments have opened doors to markets valued at approximately $6.4 billion, offering new opportunities for U.S. agricultural producers.

Efforts by the U.S. Codex Office ensured the establishment of new pesticide residue limits, safeguarding U.S. agricultural interests in the global marketplace. Additionally, the USDA facilitated numerous trade missions and participated in international trade shows, connecting U.S. businesses with international buyers and leading to significant sales projections.

The inauguration of the Regional Agricultural Promotion Program (RAPP) signifies a forward-looking approach to market development, focusing on emerging markets with high growth potential. This initiative is expected to enhance U.S. agricultural exports by diversifying into new markets and increasing market shares.

The USDA's commitment to global food security remained steadfast, with significant investments made through its Food for Progress and McGovern-Dole programs, benefiting dozens of countries.

Reflecting on the successes of 2023, the USDA sets its sights higher for 2024, aiming to further diversify export markets and solidify the global standing of U.S. agricultural products. This ongoing commitment underscores the importance of trade and exports in strengthening American agriculture and supporting economic growth.