U.S. bulk agricultural exports saw remarkable growth in 2024, as global importers leveraged competitive prices and abundant supply. This surge highlights the resilience and adaptability of U.S. agricultural trade, strengthening partnerships across key markets and opening new avenues for expansion.
Despite a decline in purchases from China, U.S. bulk agricultural exports by volume jumped 22%—the largest annual increase in a decade—according to U.S. Census Bureau data released Wednesday. Lower average export prices, down over 20% from 2023, contributed to higher global demand and reinforced the U.S. position as a leading agricultural supplier.
Mexico and Colombia set new records for U.S. bulk grain imports, with volume increases of 29% and 20%, respectively. Japan and South Korea also showed impressive growth, with imports up 43% and 107% year-over-year, reaching multi-year highs. These four nations collectively accounted for 44% of total U.S. bulk export volumes, underscoring the strength of trade relationships beyond China.
China remained the top destination for U.S. bulk exports in 2024, accounting for 24% of total shipments. Although its imports declined by 5%, this shift presents an opportunity for U.S. agricultural producers to diversify trade partnerships and strengthen ties with emerging markets. The continued demand from key buyers like Mexico, Japan, and South Korea highlights the competitive edge of U.S. farm products in the global market.
Total U.S. agricultural and related product exports reached $191 billion in 2024, slightly surpassing 2023 levels. Canada, China, and Mexico remained the top three markets, accounting for $91 billion, or 48% of total U.S. farm exports—a testament to the stability of North American trade relations.
Beyond bulk commodities, rising global demand for high-value agricultural products contributed to strong export performance. Beef, pork, tree nuts, and dairy saw price increases, collectively generating $37 billion and making up 19% of total U.S. farm exports.
Additionally, U.S. agricultural exports to the United Kingdom, India, the Dominican Republic, and Guatemala reached decade-high or record levels. While these markets are smaller than China, their steady expansion enhances trade stability and creates new growth opportunities for U.S. farmers and exporters.
As global trade continues to evolve, the diversification and adaptability of U.S. agricultural exports will play a crucial role in sustaining long-term growth. Strengthening relationships with both established and emerging trade partners ensures that the U.S. remains a leader in global agriculture.
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