US FARM AND AGRICULTURAL MARKET IS A GROWING INDUSTRY OF THE PRESENT TIME

 OVERVIEW OF THE AGRICULTURAL MARKET OF THE UNITED STATES

Agriculture is the most important and crucial industry of the United States as the major export from the US is done through this industry only. As per the data, the United States had approximately 2.04 million farms under its territory in the year 2017 which covered a land area of about 900 million acres.

Agricultural practices in the United States are highly mechanized and systematic and only one farmer is enough to look after a farm measuring 1 km2. Various records are held by the United States in the field of agriculture in the year 2018. Some of the main achievements are:

·        Biggest maize & soy producer in the world (392 million tons and 123 million tons respectively).

·        Ranked as the 4th largest wheat producer in the world (51.2 million tons) after China, India, and Russia.

·        The US was 3rd biggest producer of sugar beet (30 million tons) and the 10th largest of sugar cane (31.3 million tons) in the world.

Although various agricultural products are produced in the farms of the US, amongst all, the major items are corn, cattle meat, cow’s milk, soybeans, and pig meat.

CURRENT AGRICULTURAL INDUSTRY OF THE UNITED STATES – FEBRUARY 2023

As per the US Export Data for agricultural products, 2022 was the most beneficial year for the industry as the best-ever exports have been done for agricultural products in 2022 which were USD 196 billion. As per the final US Trade Data report, the exports from the US of agricultural and farm products grew by 11% which translates to USD 19.5 billion from the previous year.

Agricultural secretary of the United States named Tom Vilsack said that the combined administration of Biden and Harris has made the agriculture sector of the nation rise with a net annual income of USD 160 billion. the agricultural secretary also stated that the nation is trying its level best to strengthen its supply chains so as to avoid any lag or process slowdown.

The top 10 importers of agricultural products from the US as stated in the US Export Data are:

·        China

·        Mexico

·        Canada

·        Japan

·        European Union

·        South Korea

·        Taiwan

·        The Philippines

·        Colombia

·        Vietnam

Amongst these, the sales increased by a considerable amount in 7 countries including China, Mexico, Colombia, and Canada in the year 2022.

As we discussed before in this blog that the United States produces numerous agricultural products but as per the US Trade Data for the year 2022, the country majorly exported the following products to other countries:

·        Soybeans

·        Corns

·        Beef

·        Daily items

·        Cotton, and tree nuts

These 6 agricultural products constitute more than 50% of total US agricultural products. The country generates huge profits by exporting these items to the world.

CONCLUSION

As we reach the end of this discussion, we want to state that agriculture is a market of opportunities. These opportunities can be enjoyed by all American farmers, grazers, and people belonging to low communities. This will help the US Trade Data to flourish more and generate more profits. This will in turn help the country to boost its economic growth and GDP in long run. The government of the country is also very systematic and humble towards this field of the country. Tom Vilsack extended his heartfelt gratitude towards all the people associated with the agricultural industry and thanked all for their work performance from growing and processing the orders to shipping and delivering the same.

BONUS TIP FOR ALL THE READERS

We hope you liked our report. If you are looking for a more advanced and detailed US Trade Data or US Import Data report or want a customized plan for yourself, then get in touch with us today and get the most interactive database from us which would help you formulate your strategies.

For any query, drop us a mail at info@tradeimex.in or visit our website https://www.usimportdata.com

 

 

 

Comments

Post a Comment

Popular posts from this blog

WHAT SCARES THE UNITED STATES THE MOST IN THE YEAR 2023?

Image
You would be thinking that after being a superpower, what thing on this earth is scaring the United States these days? Trust us that the thing which is creating stress in the minds of the US officials is none other than the widening of the trade deficit that is increasing every year and creating a large trade deficit in the nation. You would be thinking that what adverse effects can this deficit create in the nation. So today, we are going to update you with the current scenario of the economic condition of the US followed by the harmful or adverse effects that are caused due to this trade deficit. LATEST TRADE DATA REPORT OF THE UNITED STATES Based on the information received from the US Trade Data for the month of January 2023, the trade deficit of the country has widened due to a drastic rise in the Imports and exports to and from the nation. The Commerce department of the US recently released its statement that mentioned that in January the trade deficit took a jump by 1.6% an...
Read more

THE US BECAME THE TOP EXPORT ACCOMPLICE OF INDIA IN 2022 – COMPLETE INSIGHTS

Image
  MUTUAL COORDINATION AND TRADE RELATIONS BETWEEN INDIA AND THE US The mutual relations and coordination between the two nations are very good and respectable. Both nations support each other and discuss together on major issues like terrorism, showcasing distrust on Pakistan’s nuclear program, or the Indo-pacific tensions. As far as US Trade Data for the year 2022 is concerned, the US was the major trading partner of India, whereas India was the 7 th biggest trade partner of the US. According to the US Export Data for the year 2017, the nation exported goods worth USD 25.7 billion to India and in return, it imported goods worth USD 48.6 billion. As far as the main import items are concerned from India, then they were IT services, textiles and merchandise, machines, precious gems, and steel products. On the other hand, India mainly imported aircraft, hardware systems of computers, fertilizers, and waste/scrap metal from the US. Moreover, in the year 2005, the prime ministe...
Read more

HOW STRONG ARE THE BILATERAL TRADE RELATIONS BETWEEN THE UNITED STATES AND TURKEY?

Image
  IS THE BOND BETWEEN THE USA AND TURKEY STRONG OR WEAK? Turkey is a part of the NATO group and is situated at the southern ends of Europe and Asia. Turkey is one of those nations that provides shelter to one of the most skilled and young workforces. Also, due to its geographic location, the USA finds Turkey as the idlest place for trade and attracts numerous US companies to invest in it. The downside to this fact is that due to some negative reasons like economic and political activities in Turkey, the trade relations between US and Turkey are on the weaker side overall. In the year 2020, bilateral trade between the nations declined by 8% but in the year 2021, this trade grew by 33% and became USD 33 billion. The US Export Data with respect to Turkey grew by 19.5% whereas, the US Import Data grew by 45%. The major exports between the countries were space products, oil and gas, chemicals, and agro-products. On other hand, major imports were of petrol, textile, and iron produc...
Read more