Last year inflation and higher values led to increases in both export and import numbers. USDA Economist Bart Kenner tells USDA Radio that 2023 has seen a different trend through the first ten months of the year.
Kenner says ag imports are down by 2%, while exports are running 11% behind last year’s pace.
Last year values increased as inflation led to higher unit prices. With inflation slowing in 2023, overall ag export numbers are down sharply from a record year in 2022.
That was USDA Economist Bart Kenner.
