U.S. agricultural exports are forecast at $170 billion in fiscal year (FY) 2025, an increase of $500 million from the August forecast. Ag imports in FY 2025 are forecast at $215.5 billion, an increase of $3.5 billion from the August forecast and $9.3 billion more than the $206.2 billion recorded in FY 2024.
These latest forecasts are according to the U.S. Department of Agriculture (USDA) Economic Research Service and Foreign Agricultural Service Situation and Outlook Report.
Horticultural exports are projected at $41.7 billion, an increase of $200 million from August. It is due to increases in fresh and processed fruit and vegetable exports. Fresh fruit and vegetables are up $100 million to $7.7 billion on gains to top markets like Mexico and Canada.
Processed fruits and vegetables are up to $8.4 billion, an increase of $100 million, on higher shipments to countries like Canada and Mexico. Whole and processed tree nuts remain the same at $9.9 billion. Most shipments are destined for Europe and Asia.
The horticultural import forecast is up $1.1 billion to $105.6 billion. The import forecast for fresh fruits is down $200 million to $20.1 billion. Import values are lowered due to the expectation of declining unit values compared to FY 2024.
Fresh vegetable imports remain the same at $13.5 billion in FY 2025. It leaves the forecast 5% higher than FY 2024. The increase reflects the improved growing conditions in Mexico’s, U.S.’s largest import supplier. Fresh vegetable volumes are up 100,000 metric tons. The FY 2025 forecast for processed vegetables is unchanged at $9.1 billion.
FY 2025 imports of sugar and tropical products are forecast at $31.0 billion, an increase of $1.3 billion from the August forecast.
Source: USDA Economic Research Service and Foreign Agricultural Service Situation and Outlook Report