U.S. Export Values Growing and Food Prices Continue to Climb

U.S. Export Values Growing and Food Prices Continue to Climb

Bob Larson
Bob Larson
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.

**The value of all U.S. exports has grown at an average annual rate of 6% since 2002 and reached a record high of $1.4 trillion in fiscal year 2021.

The USDA says over that time, agriculture’s share of total U.S. exports has steadily increased.

Between 2002 and 2021, the value of ag exports rose 11% every year, on average.

**The Consumer Price Index increased 0.1% in August after being unchanged in July.

The Bureau of Labor Statistics reports the food index increased 0.8%, the smallest monthly increase since December.

The food at home index rose 0.7% as all six grocery store food group indexes increased.

The index for cereals and bakery products rose 1.2%, while meats, poultry, fish, and eggs index, the fruits and vegetables index, and the nonalcoholic beverages index all increased 0.5%.

**The National Cattlemen’s Beef Association reiterated the need for a limited version of the Securities and Exchange Commission’s greenhouse gas disclosure rule.

NCBA Chief Counsel Mary-Thomas Hart says the SEC’s proposed rule is aimed at large publicly-traded companies but would lead to unintended consequences for small businesses like farms and ranches.

She says the rule would require data that simply does not exist at the farm or ranch level and increases the regulatory burden on individual cattle producers.

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