Decline Expected In Farm Exports

Fri., Aug. 30, 1996

From Staff And Wire Reports

U.S. farm exports are forecast to decline 1.6 percent to $58 billion in fiscal 1997 amid lower shipments of grain and cotton, the Agriculture Department said.

In its first forecast for the year beginning Oct. 1, the department projected the value of agricultural imports at $32 billion, leaving a farm-trade surplus of $26 billion, down 8.7 percent from the current year that ends Sept. 30.

Overall, farm exports for the current year ending Sept. 30 are forecast at $60 billion, unchanged from the May estimate. That’s a record for a second straight year.

The sale of U.S. grains, livestock and processed foods to overseas suppliers are key to the economic health of agriculture and agribusiness. Exports account for about 30 cents for each dollar in farm income.

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Decline Expected In Farm Exports

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