US farm exports to fall 3.9% to $132 bn for 2011-12
Saturday, 25 February 2012 | 00:00
Farm exports by the U.S., the world’s largest exporter of agriculture produce, are expected to fall 3.9% to $132 billion for 2011-12 on increased competition from other countries.
The countries across the globe has increased the agricultural production to ensure food security for future.
Brazil is likely to over take U.S to become the world’s largest soybean exporter for 2011-12 while, U.S corn sales is likely to make up 45% of the global trade, lowest since 1977.
US soybean output may climb to 3.215 billion bushels from 3.046 billion a year earlier.
The demand for soybean from China has increased and has also signed agreements in Iowa and California to purchase 13.4 million tons of the oilseed from the U.S.
However, U.S. corn crop may rise to a record as farmers increases the acreage under agriculture, easing pressure on higher food and fuel prices.
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