The US Has Never Imported So Much Food
- Food imports to drive agriculture trade deficit to record
- Crops such as soy, wheat have been losing markets abroad
American imports of farm goods are forecast to climb 6.5% in the year ending Sept. 30 to $219.5 billion, with inbound shipments of avocados, orange juice and coffee accounting for much of the increase.
Photographer: Luis Antonio Rojas/BloombergThe US, known for being a global agriculture powerhouse, has never imported so much food.
Inbound shipments of everything from avocados to coffee and sugar are expected to drive the country’s agriculture trade deficit to a record $49 billion this year, the US Department of Agriculture said in its trade outlook report. At the same time, America’s most widely grown crops have been losing overseas markets over the past decades.