Competition Slowdown: Economists warn ag exports won’t be as competitive this year

Economists are warning U.S. ag products will not be as competitive with other countries this year and it is all because of the strong dollar. They break down the numbers for the first six months of the trading year.

“Agricultural exports for October through March, fiscal year 2023 or $100.2 billion, down 1 percent from 101.6 billion this time last year. Agricultural imports are $98.9 billion, up 7 percent from 92 points. $8 billion this time last year for a trade surplus of $1.2 billion, which is down 86 percent from the $8.8 billion surplus this time last year,” said Bart Kenner.

Related Stories
A recent study by the Environmental Defense Fund in Kansas is urging farmers to diversify crop portfolios to mitigate risks and ensure long-term sustainability.
As farmers gear up for the spring planting season, it’s crucial to remember that financial planning goes hand in hand with early season crop protection.