During fiscal year 2014, agricultural exports will reach $149.5 billion, a new record for American agricultural exports, according to a recent USDA report.
The Outlook for U.S. Agricultural Trade report says the growth comes from rising prices, which have driven export numbers in the past, but will come from an increase in the volume of U.S. agricultural exports, too, which is projected to jump by 31 percent over 2013.
Fiscal years 2009 to 2013 represent the strongest five years in history for agricultural trade, with U.S. agricultural product exports totaling $619 billion over those five years.
“This report indicates that the volume of U.S. agricultural exports has increased, which demonstrates an increasing global appetite for high-quality, American-grown products,” said Agriculture Secretary Tom Vilsack.
"USDA will continue to focus its efforts on tapping into new markets for what is grown and made in rural America. Today, only one percent of U.S. companies export, and yet 95 percent of the world's consumers live outside the borders of the United States, creating significant opportunities for U.S. food and agriculture. Thanks to resources in the 2014 Farm Bill, USDA is able to continue support for trade promotion and market expansion for U.S. agricultural products overseas—programs that return $35 in economic benefits for every dollar invested.