The United States agricultural industry is on a rise as exports increase.
Over the last year, U.S. exports for the fiscal 2010 year rose to $104.5 billion in sales, $8 billion more than 2009. This information comes from the Outlook for U.S. Agricultural Trade.
This trade surplus in the agriculture industry is expected to reach $28 billion which is the second highest surplus ever reached in the United States.
The news is positive for the industry that has been struggling over the last couple years. According to the Colorado Farm Bureau, “The report comes on the heels of a historic six-month pace of U.S. agricultural exports, which shattered records with $59 billion in sales in the first half of the fiscal year and generated a 14 percent increase over the same period last year.”
China has contributed to the growth by purchasing nearly $3 billion in exports during the first half the fiscal year. This means China is currently the United States’ top market.
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