Ag imports in fiscal year (FY) 2025 are forecast at $212 billion, $8 billion over the FY 2024 forecast, according to the U.S. Department of Agriculture Economic Research Service and Foreign Agricultural Service Situation and Outlook Report.
FY 2024 imports are forecast at $204 billion, $8.6 billion more than the $195.3 billion recorded for FY 2023 and $1.5 billion higher than the May forecast.
Horticultural import forecast for FY 2025 is $104.5 billion, which is a $4 billion or 4% increase over the FY 2024 forecast.
Fresh Fruit Imports
Fresh fruits are the largest component, increasing by 4% to $20.3 billion. Fresh fruit import volumes are projected at 100,000 metric tons higher, mostly due to the improved growing conditions in Mexico and portions of South America.
Processed fruit import values are raised $500 million over FY 2024 to $9 billion. Orange juice is the largest component of fruit juice imports, and imports have increased primarily due to the trend of decreased orange production in the U.S. To fulfill domestic demand through FY 2025, imports from Brazil and Mexico will continue to be key sources of orange juice.
Fresh Vegetables Imports
Fresh vegetables imports are forecast to grow by $700 million, or 5%, in FY 2025 to $13.5 billion. Volumes are forecast to grow by 200,000 metric tons. This is mostly due to improved growing conditions in Mexico, the largest import supplier.
Processed vegetables are expected to grow $400 million to $9.1 billion, and volumes are increased 200,000 metric tons over FY 2024.
FY 2024 import forecast for horticultural products is adjusted up $900 million from the May outlook to $100.5 billion. It represents a $3.7 billion, 4% year-over-year increase. Fresh fruits imports value is forecast up this quarter by $200 million to $19.5 billion. Fresh vegetables imports are forecast up to $200 million to $12.8 billion.
Fruit juice imports are raised $100 million from the previous forecast on growth from Mexico and Brazil. Orange juice prices remain at elevated levels, leading to increased import values.