Exports Amplify U.S. Agriculture Sector

Specialists believes that agriculture was one of the few sectors in the economy of U.S. that was not affected in such drastically measure like others  by crisis.

It is estimated that America’s  agricultural exports will  reach $107.5 billion in the fiscal year that ends Sept. 30, the second-highest amount ever, behind the record $115.3 billion in exports logged in 2008.

Next year, exports are expected to total $113 billion. In releasing the data, Tom Vilsack, the secretary of agriculture, said exports of grains and meats were leading the rebound. He called the new estimates “very encouraging.”

“The better the demand, the higher the price, and it’s going to put another 10, 15, possibly 20 cents in the price of a bushel of corn,” said Bill Horan, a corn farmer in Iowa. Corn is about $4 a bushel, which is about 50 cents higher than last year. “It means my wife can go out and buy a new sofa, and I can put new tires on the pickup.”

“The farm economy in rural America has not suffered as severely as the industrial part of the economy and, because of the strong exports, the rural economy is recovering what it lost during the downturn,” said Roy Bardole, a farmer in Rippey, Iowa, and chairman of the Soybean Export Council.

Short URL: http://newskf.com/?p=1158

Posted by N.Desiree on Sep 1 2010. Filed under Business, Industry. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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