US Export Of Agricultural Products Is Expected To Decrease By 6% In Fiscal Year USDA:2018.

- Jun 13, 2018 -

The agricultural trade outlook report released by the US Department of agriculture showed that U.S. agricultural exports in the 2018 fiscal year are expected to be $500 million lower than the November 2017 forecast, or $1 billion down from the previous year. The US Department of agriculture predicts that the export demand for agricultural products such as oilseeds and manufactured goods in the United States will be reduced by 6%. The US Department of agriculture expected the export of agricultural products to be $139 billion 500 million in fiscal 2018, which was $500 million lower than the November 2017 forecast, mainly due to a 6% decrease in the export of oil seed and manufactured goods, partly offset by the growth of livestock, cotton and grain exports to some extent.

American oil exports were expected to be $31 billion 100 million in fiscal year 2018, a decrease of $2 billion over the previous year, as soybean exports slowed, especially for China's exports, as well as fierce competition from Brazil. In 2018, US imports of agricultural products were expected to decrease by 600 million US dollars over the 2017 fiscal year, but higher than US $1 billion 500 million in November 2017. Imports of oil seeds and manufactured goods in the United States were expected to increase to $9 billion in fiscal year 2018, higher than the forecast value of $200 million in November 2017, partly because of higher plant oil imports than expected.

As far as China is concerned, although China's imports will be reduced in 2018, China will still be the largest importer of American agricultural products, and the value of its agricultural products will reach $21 billion 600 million, only $1 billion lower than the earlier forecast. The report shows that US exports of soybeans to China in the 1 quarter decreased by 26% compared with the same period last year, while Brazil's exports to China increased by more than three times, as export supplies were adequate.

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