WASHINGTON ¯ Estimates on U.S. agricultural exports have been revised to a record $108.5 billion during the 2008 fiscal year, according to U.S. Agriculture Secretary Ed Schafer. The revision is a $7.5 billion increase from February's previous record forecast and $26.5 billion above the final 2007 exports. Animal products and grains account for two-thirds of the export gains.
"U.S. producers are on track to export a record 63 million tons of corn, and set new export volume and value records for pork," Mr. Schafer said. "Export volumes and values are also up for many horticultural products with sales growth to Canada and the European Union being exceptionally strong."
China is forecast to receive a record $10.5 billion in U.S. exports, up almost $3.4 billion from 2007 levels. Thanks to North American Free Trade Agreements with the U.S., Canada and Mexico are still the United States' top-two markets worldwide with exports forecast to reach $30.5 billion in 2008 ¯ $5 billion above 2007.
Read the full MeatPoultry.com story here.
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