Idaho’s agricultural export value edged up in the first quarter | Various crops
The total value of Idaho’s agricultural exports grew 1 percent in the first three months of 2021, while nationally, the value increased 24 percent.
“US growth was led by corn and soybeans, which are generally not produced for export to Idaho, although grain exported from Idaho grew by more than 17%” in the first Quarterly, Doug Robison, Idaho president of Northwest Farm Credit Services, told Idaho Farm Bureau Federation.
In Idaho, live animals, meat and related categories saw strong growth in export value during the first quarter of 2021 at a combined rate of 23%, helping to offset declines in value of dairy and potato exports, Robison said.
According to recently released data from the US Census Bureau which is calculated by the Idaho State Department of Agriculture, the total value of Idaho’s agricultural exports in the first three months of 2021 was $ 260 million, up 1% from the same period in 2020.
Canada remained the top destination for Idaho’s agricultural exports in the first quarter, as the country purchased $ 80 million worth of agricultural products from Gem State, a 13% increase from the first quarter of 2020.
Mexico ranked No. 2 in this category and bought $ 54 million worth of agricultural exports from Idaho in the first quarter, down 8 percent from last year at the same period.
China has moved from one position to third, after purchasing $ 16 million worth of Idaho agricultural products in the first three months of 2021, a 58% increase over the same period in 2020.
Robison said a recent 30-day shutdown in beef exports from Argentina will potentially lead to a further increase in export activity to China from Idaho.
“Argentina supplies up to a quarter of China’s beef imports,” he said. “The increase in Idaho’s live animal and meat exports in the first quarter was most likely supported by Chinese purchases which may see further increases in the second quarter.”
The Netherlands bought $ 14 million worth of agricultural produce from Idaho in the first quarter, up 7% from the same period last year.
Japan purchased $ 13.8 million worth of agricultural products from Idaho in the first quarter, a 3 percent increase from 2020, and a total of $ 13.7 million worth of agricultural products from Idaho. Idaho were sold to South Korea from January to March, down 23% from last year. .
On May 26, the U.S. Department of Agriculture forecast U.S. agricultural exports to hit a record $ 164 billion in fiscal year 2021, which ends September 30. This would represent an 8% increase from the previous record of $ 152 billion set in fiscal 2014.
If achieved, that $ 164 billion total would represent an increase of $ 28 billion, or 21%, from the FY20 total.
Key drivers of the expected increase in export value this year, USDA says, include record prospects for China, reduced foreign competition, record export volumes and values for a number of key agricultural products. and significantly higher commodity prices.
The USDA predicts that China will import $ 35 billion in U.S. agricultural exports in this fiscal year, which would be an 18 percent increase from the previous record of $ 29.6 billion set during the year. fiscal year 2014. This increase should be driven by Chinese demand for soybeans and corn.
“The USDA predicts that total exports of commodities (agricultural) and bulk meat will reach record levels in volume and value in fiscal year 2021,” the ministry’s May 26 report said.
Census Bureau export data is released quarterly and is based on the state from which a product is exported, so it does not capture all of Idaho’s agricultural exports. For example, it does not catch Idaho wheat that is exported out of Portland.
But it shows trends and, in percentage terms, closely matches USDA data released each year in the fall. USDA data better captures the state’s agricultural exports, but it is not as timely as Census Bureau data.
Census Bureau data shows that Idaho’s record for the total value of agricultural exports was $ 1.02 billion, set in 2014. According to the Census Bureau, the total value of Idaho’s agricultural exports in 2020 was $ 927 million, up from $ 899 million in 2019.
USDA Idaho ag export data for 2020 will be released this fall. These data show that Idaho’s record for the total value of agricultural exports was $ 2.29 million, set in 2013.