USDA Testifies on Booming Ag Exports at House Committee Hearing
On February 17, 2011, Agriculture Secretary Vilsack testified before the House Committee on Agriculture stating that recent data indicates U.S. farm exports reached an all-time high in calendar year 2010. U.S. agricultural exports are again expected to be a record…
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high this fiscal year -- up nearly $18 billion, with the agricultural trade balance forecast to be a record $41 billion. According to Vilsack, every $1 billion in agricultural exports helps support 8,000 jobs, and such exports will continue to play a leading role in the President's National Export Initiative. The other big trend in exports is the increased importance of the Chinese market, now the number 1 market, edging out Canada, and accounting for 15.1 percent of exports.