Ag Exports to Soar in 2022 and Farm Loan Limits Raised October 1st
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**USDA’s Economic Research Service projects the total VALUE of U.S. agricultural exports to reach an all-time high in fiscal year 2022.
According to www.agrimarketing.com, higher shipments of major categories of commodities including grains and feeds, oilseed products, and livestock, poultry, and dairy products are the primary forces behind the increase.
Total U.S. ag export values are projected to reach $177.5 billion in FY 2022, up from their previous high of $173.5 billion in 2021.
www.agrimarketing.com/s/138161
**The USDA says it will invest $5 billion to advance goals of ending hunger and malnutrition.
The agency highlighted the effort at the recent United Nations Food Systems Summit.
Ag Secretary Tom Vilsack says it calls for building more sustainable and resilient food systems around the globe to “provide safe, nutritious, affordable and accessible food … while conserving natural resources and combating the climate crisis.”
**And, the USDA says as of October 1st a higher loan limit is now available for borrowers seeking a guaranteed farm loan. The limit went from $1.776 million to $1.825 million.
Farm Service Agency Administrator, Zach Ducheneaux (doo-SHEH-no) says farm loans are critical for our customers’ annual operating and family living expenses, emergency needs, and cash flow. Raising the guaranteed loan limit will allow FSA to better meet their financial needs as natural disasters and the pandemic impact operations.
