The quarterly trade forecast released today projects fiscal year 2021 U.S. farm exports at $164 billion – the highest total on record. This represents an increase of $28 billion from last fiscal year and $7 billion from USDA’s previous forecast.
The Office of the U.S. Trade Representative made a request to initiate a dispute settlement panel under the United States-Mexico-Canada Agreement to challenge Canada’s allocation of dairy tariff-rate quotas.
FAS works to create a global environment that’s conducive to agricultural trade. We partner with other federal agencies, foreign governments, international organizations, and U.S. stakeholders to knock down barriers, negotiate and enforce agreements, and establish international rules and standards that are transparent and predictable.
Through our market development programs and activities, FAS partners with the U.S. agricultural industry to cultivate global sales opportunities for the full spectrum of U.S. farm and food products, from bulk commodities to specialty foods. We also provide credit guarantees to facilitate overseas financing of U.S. export sales.
FAS leads USDA’s efforts to help developing countries improve their agricultural systems and build their trade capacity. We also administer food assistance programs that not only help meet the nutritional needs of recipients around the world, but also support agricultural development and education to ensure long-term food security.
FAS’s network of global contacts and long-standing relationships with international groups contribute to the agency’s unique market intelligence capabilities. Our analysts objectively assess foreign market conditions, prepare production forecasts, identify export opportunities, and track changes in policies affecting U.S. agricultural trade.
ICYMI: According to the latest monthly trade data, published June 8, US ag product exports from Jan-April 2021 totaled $59.2 billion, ⬆️26% from the same period last yr. Bulk commodity exports are ⬆️69% in value overall, w/corn ⬆️160% and soybeans ⬆️80%. https://t.co/BzmUAYuiJ7https://t.co/pm6gyFeToh