American Peanuts to Japan and Ag Export Values Decline
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**The American Peanut Council led a trade delegation to Japan to meet with top U.S. ag and trade officials, importers, manufacturers, and key stakeholders.
www.morningagclips.com reports, the 2020 removal of a 10% duty on U.S. peanut imports under the Japan-U.S. Trade Agreement is allowing American peanut producers a more competitive edge in the Japanese market.
Japan is the fifth largest market for U.S. peanut exports and growing.
www.morningagclips.com/apc-leads-peanut-delegation-to-japan-on-official-trade-mission/
**Agricultural export values in fiscal year 2023 that ran through September 30 declined while imports narrowly increased.
Ag product values from October 2022 through the end of September were reported to be $178.7 billion, down from $196.1 billion a year earlier.
A USDA report says import values rose 0.6% to $195.4 billion.
Corn exports were the second-biggest decliner behind vegetable oils, falling 32%.
Cotton fell 28%, wheat values 21%, and soybeans 2%.
**This year’s Thanksgiving Day dinner won’t be as hard on the checkbook as it was last year, but will still reflect historically high costs.
The American Farm Bureau Federation’s 38th annual survey shows the average costs of this year’s holiday feast for 10 is $61.17, less than $6.20 per person.
This is a 4.5% decrease from last year’s record-high of $64.05, but a Thanksgiving meal is still 25% higher than in 2019.
