US agriculture exports projected to grow
New report highlights positive trade forecast
A new government report forecast the trade surplus in agriculture to reach $28 billion, the second highest level achieved.
The news follows a historic six-month pace by agricultural exports, with $59 billion in sales, 14% higher than last year. Exports to China grew by nearly $3 billion during this period to $10.6 billion.
Outlining the U.S. Agricultural Trade Outlook Forecast for fiscal year 2010, U.S. Agriculture Secretary Tom Vilsack said this means 8,000 to 9,000 domestic jobs for every $1 billion in exports. U.S. farmers and producers are expected to reach $104.5 billion in sales, up $8 billion over last year.