Markets Ohio’s Country Journal


forecast at $113 billion, up $5.5 billion from the revised 2010 forecast, accord- ing to the most recent USDA Outlook for U.S. Agricultural Trade report, released Aug. 31. Much of the increase is due to greater grain and feed ship- ments, (up $4.3 billion from the revised 2010 forecast) due to sharply reduced competition from Russia, Kazakhstan and the Ukraine. Horticultural exports are forecast up


$1.7 billion from 2010 on strong demand from Canada, the EU and Asian markets. Increased livestock and poultry product exports are expected to more than offset slight declines in dairy product exports. Cotton exports are forecast up significantly with larger domestic supplies and less export competition. The only major category expected to fall is oilseeds, due in part to increased competition from South America. Fiscal 2010 exports are raised $3 bil-


lion from the May forecast to $107.5 bil- lion, due mostly to greater grain and


feed shipments and higher values along with increased livestock, poultry and dairy product exports. The fore- casts for cotton, oilseeds and horticul- tural products are raised. Much of the overall increase is due to greater ship- ments to Asia, primarily Hong Kong and South Korea. Ohio could benefit from additional


at the end of this year there will be more than 600 bilateral or regional FTAs in place around the world with the United States being party to fewer than 25. “Our competitors are making deals.


We’re sitting on the sidelines,” Fisher said. Workers, voters and policymakers


exports, said the Ohio Farm Bureau Federation (OFBF). Ohio’s export industry is a bright spot in the state’s economy and has the potential to gen- erate additional personal income and government revenues. “The world wants to buy what we’re


good at making and growing. That’s a strength we need to capitalize on,” said John C. (Jack) Fisher, OFBF’s executive vice president. OFBF is calling on the Obama


administration and U.S. Congress to enact pending Free Trade Agreements (FTAs) with Columbia, Panama and South Korea. FTAs improve market access and reduce tariffs. The American Farm Bureau Federation estimates that


need to embrace the importance of the export industry, Fisher said. “The sta- tistics paint a very clear picture of just how significant this piece of our econo- my is,” he added. The food chain accounts for a large


share of Ohio’s exported output and demonstrates the potential for growth. Ohio farm product shipments totaled $2.68 billion last year, a 69% increase over the level of five years ago, accord- ing to the U.S. Department of Agriculture. With the United Nations forecasting that world food demand will double within 40 years, farmers and 1 million other Ohioans who work in farm- and food-related jobs have a great deal to gain from expanded


Mid-SepteMber 2010 9


FY 2011 ag exports expected to rise to $113 billion, Ohio should take advantage Fiscal 2011 agricultural exports are


world trade. “95% of our potential customers live


outside our borders. Exporting to them accounts for a lot of paychecks and a lot of tax revenue. The public conversa- tion needs to recognize this reality.” Fisher said. The forecast for 2011 imports is $81.5


billion, up 5.8% from the revised 2010 forecast, as import demand grows steadily. Import values are expected to increase as income growth improves and some commodity prices remain rel- atively strong. Continued strong demand in 2011 is expected for live- stock and horticultural imports, although uncertainty about economic recovery may limit gains for wine, beer, processed fruits and vegetables, and nuts. The $77-billion total for 2010 reflects higher import unit values than seen in 2009, especially for processed products, as volume is lower. The full Trade Outlook report


is available at usda.mannlib.cornell.edu/usda/ current/AES/AES-08-31-2010.pdf.


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