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USDA Projects Decline in Agriculture Exports through 2032

02/26/2023

During 2022, the combined value of U.S. agricultural exports attained $196.4 billion.  A decline of approximately 3.8 percent annually will become evident from 2023 through 2026.   This is due to decreased demand, especially from China and Mexico.  These nations that have emerged from COVID restrictions are enduring inflation and have reduced their demands for grains, oilseeds and other products. 

 

From 2027 onward, growth in exports will resume at an annual rate of 1.9 percent through 2032 to attain $182.2 billion. Over the proximal four years, grain exports will decline from $48 billion in 2022 to $34 billion in 2027.  Currently oilseeds and products will decline from $45.6 billion to $35.2 billion.

The implication for poultry production is that greater availability of ingredients and consequently lower prices will prevail unless row-crop production is reduced in proportion to the combination of domestic and export demand.