Overview

U.S. agricultural exports for FY2008 are forecast by the U.S.Department of Agriculture to reach a record $83.5 billion, while agricultural imports are expected to reach $75 billion, also a record level. The agricultural trade surplus is projected to be $8.5 billion. Exports of bulk commodities (e.g., soybeans, wheat, and feed grains) remain significant, but exports of high-value products (HVPs), such as fruits, and vegetables, and meats are increasing. HVPs accounted for almost 63 per cent of total U.S. agricultural exports in FY2006. Leading markets for U.S. agricultural exports are Canada, Mexico, Japan, the European Union, China, South Korea, and Taiwan. The United States dominates world markets for corn, wheat, and cotton. Brazil has overtaken the United States as the world's leading supplier of soybeans and is the world's leading supplier of beef and poultry to world markets. The U.S. share of world beef exports has declined since the discovery of a cow infected with 'mad cow disease' in the United States in 2003. The United States, European Union, Australia, and New Zealand are dominant suppliers of dairy products in global agricultural trade. Most U.S. agricultural imports are high-value products. For some imports (grains, meats, horticultural products), similar products are produced in the United States; production of other categories of imports (bananas, coffee, cocoa) is very limited. The biggest import suppliers are the European Union, Canada, and Mexico, which together provide 57 per cent of total U.S. agricultural imports. Australia, Brazil, New Zealand, Indonesia, and Colombia are also major suppliers of agricultural imports to the United States. Among the fastest-growing markets for U.S. agricultural exports are Canada and Mexico, both partners with the United States in the North American Free Trade Agreement (NAFTA). U.S. agricultural exports to China, recently a member of the World Trade Organization, have grown at an annual rate of 16 per cent since 1992. Both the EU and the United States subsidize their agricultural sectors, but overall the EU outspends the United States five to one. Recent reforms of the EU's Common Agricultural Policy shift substantial spending into direct income support decoupled from production and into rural development. Canada supports some sectors (e.g., dairy and poultry) more than others. Australia provides less support to its agriculture. Export subsidies are more important in the EU than in the United States; border measures (tariffs) are more important in Canada than in the United States. Australia operates a mix of trade measures. The United States is the dominant supplier of foreign food aid, followed by the EU, Canada, and Australia. U.S. and other major food aid donors provide commodities for emergency relief or development assistance.

Full Product Details

Author:   Charles E. Hanrahan ,  Beverly A. Banks ,  Carol Canada
Publisher:   Nova Science Publishers Inc
Imprint:   Nova Science Publishers Inc
ISBN:  

9781604568189

ISBN 10:   1604568186
Publication Date:   01 August 2008
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   Awaiting stock  
The supplier is currently out of stock of this item. It will be ordered for you and placed on backorder. Once it does come back in stock, we will ship it out for you.

Table of Contents

Preface; U.S. Agricultural Exports, Imports, and Trade Balance; Shares of U.S. Production Exported: Selected Commodities; Composition of U.S. Agricultural Exports: Major Commodity Components; Composition of U.S. Agricultural Exports: Bulk, Consumer-Ready, and Intermediate Product Exports; Major Country Markets for U.S. Agricultural Exports; World Market Shares: Crops; World Market Shares: Livestock and Dairy; World Market Shares: Sugar; Major U.S. Agricultural Imports; U.S. Agricultural Imports by Country of Origin; Regional Market Growth in U.S. Agricultural Exports; Growth in U.S. Agricultural Exports to Asian Markets; Growth in Agricultural Exports to North and South America; Producer Support Estimates (PSEs) in Selected OECD Countries; Producer Support Estimates (PSEs) in the United States and the; European Union: Selected Commodities; Domestic Support and Export Subsidies in the United States and the; European Union: Budgetary Outlays; Index.

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