|
|
|
|
|
|
U.S. Soybean Exports Could Set Record in 2001
U.S. soybean exports could rise to a record 27.2 million metric tons, valued at $5.3 billion, in 2001, up from 26.7 million tons this year. More demand from Asia, and especially from China , is driving this upward trend. Record U.S. supplies and reduced competition from South American suppliers are also major factors inthe upsurge in shipments.
This year, U.S. exports of soybeans, soybean meal, and oil are projected at a record 33.7 million metric tons, up 3 million tons or 10 percent from fiscal year 1999.
China, the world’s largest soybean importer, bought 5.0 million tons of U.S. soybeans this year as a result of lower domestic soybean production there, increased processing capacity, and attractive prices.
Another factor moving exports is the nearly 780,000 metric
tons of U.S. soybeans and products that will be shipped under
USDA’s food assistance programs. The value of fiscal year
2000 and early 2001 food aid shipments, including freight, is
estimated at around $300 million.
Total U.S. agricultural exports are projected to reach $51.5 billion in 2001, up $1 billion from the current year estimate. Most of the gain in export value is being driven by bulk commodity shipments, which are projected at 121.9 million metric tons, up 9.5 million metric tons or 8.5 percent from the 2000 estimate, the largest since fiscal 1995.
The bottom line is that foreign demand is growing at a rapid pace, and the United States has abundant, high-quality supplies to meet that demand.
|
|