Bryant Christie Inc.’s Post

The U.S. agricultural trade deficit is projected to increase again to $32 billion in fiscal year 2024, a $1.5 billion increase from the February projection. Those numbers come from the USDA Economic Research Service’s quarterly May 2024 Outlook for U.S. Agricultural Trade.

That’s a solid deficit. More than -$30B for a country with nearly a billion acres of farmland and a population of only 330M should be bigger news IMO. I see a lot of buzz on here about ClimateSmart and regenerative agriculture, but as an American I think there needs to be far more discussion (and action!) around the fundamentals of our food system that are driving our food supply out of our country. This trend has been a long time in the making, but really the geopolitical (and climate) dynamics of the last 6-7 years pitched it over a new threshold as US commodities became less competitive in the global market. Despite the massive interventions in agricultural markets already made by our government, we’re increasingly reliant on imports to feed ourselves. In an era of increased disruptions, both climate-related, and, perhaps even more pertinent, conflict-related, this worsening trade imbalance may not be in the best interests of Americans, or really anyone (as we’re complicit in deforestation and land clearance necessary to allow other regions of the world to produce the “cheaper” food imported to feed Americans). How we produce our food matters, but where matters even more. #agpolicy #trade #food #foodpolicy #tradedeficit #climatedumb #resilience #fragile

The share of agricultural products in the structure of Russian exports is growing According to the latest data, the share of agricultural products in the structure of Russian exports in 2023 was about 10%. https://lnkd.in/eTGV5XMg

Agricultural export revenues above $45 bln in 2023 — Russian Agriculture Ministry High production indicators made possible for Russia to confirm again the net exporter status for agricultural products, Agriculture Minister Dmitry Patrushev said Russian agricultural export revenues were for the first time above $45 bln in 2023, Agriculture Minister Dmitry Patrushev said. "Revenues from supplies to international markets in 2023 were for the first time above $45 bln. The indicator will be even higher according to results of additional calculations," Patrushev said, cited by the agricultural ministry’s press service. High production indicators made possible for Russia to confirm again the net exporter status for agricultural products, he added. #business #finance #financialservices

The BFAP Baseline annual report offers a comprehensive perspective on agricultural production, consumption, prices, and trade in South Africa. Grain SA’s agricultural economists examined the report’s significance for grain producers. https://lnkd.in/d7r7tAH7

Russia retained its net agricultural exporter status since 2020 — Agriculture Ministry Minister of Agriculture Dmitry Patrushev stressed that "many states, regard Russia as a very reliable partner who constantly meets all agreements within the boundaries of its commitments" Since 2020, Russia has maintained its status as a net exporter of agricultural products and is a reliable partner for many countries, Russia’s Minister of Agriculture Dmitry Patrushev said on Friday. "The increase in production not only allowed us to fully meet our own needs, but Russia's role in international markets has shifted dramatically. Since 2020, Russia has been a net exporter of agricultural products. Many of our partners, many states, regard Russia as a very reliable partner who constantly meets all agreements within the boundaries of its commitments," he said. "Two decades ago, our products were mostly purchased by CIS countries and now we ship considerable volumes to Africa, South America, and Southeast Asia. It should be noted that Russian products are a big and, in many ways, stable provider on the global market for a wide range of agricultural products," the minister said. According to Patrushev, Russia ranks second in the world in terms of foreign grain and legume supplies, first in wheat and fish exports, second in sunflower and rapeseed oil trade, and third in barley supply. "Despite external pressure, we consistently support the food security of a number of countries, and this remains, among other things, one of our main priorities," he said. #business #finance #financialservices

Agricultural Income is completely non-taxable as per Section 10(1) of the Income Tax Act. Agricultural income refers to the income earned from: A) Production, Processing & Sale of agricultural crops like Grains, Pulses, Vegetables, Fruits, Spices, etc. #Compliancetips

How diversified were Australia's agricultural export market over the 2023/24 FY? This analysis takes a look at some selected markets showing key destination market share by trade value and there are some surprising results. Read more below - https://lnkd.in/ggpTwkmg

1.Wheat Market Highlight--- •The FAO has revised its global wheat production estimates for the 2023/24 marketing year, increasing them by 0.5 MMT to reach 787.8 MMT as per the April Agricultural Market Information System (AMIS) report. This upward revision in wheat production is due to slightly elevated estimates in Argentina and Australia, yet still 2.3 percent lower than the global output of 2022. The utilization for the 2023/24 period has seen a boost of 2.1 MMT to reach 795.4 MMT, now exceeding the 2022/23 level by 2.0 percent. This increase is supported by greater feed usage in Argentina and other use in the UK. #wheat #global #production #marketinsight #agriculture #argentina #australia #unitedkingdom #international •For a more comprehensive analysis and detailed insights, we invite you to explore further at www.agriwatch.com •Subscribe to Breaking Updates through our Market Intelligence Channel: https://lnkd.in/dHFU_3PP •For more details on website subscription you can contact us on whatsapp at 9312-097-638

The OECD-FAO Agricultural Outlook 2024-2033 is the key global reference for medium-term prospects for agricultural commodity markets, and this year’s edition marks the 20th edition of the joint publication. For the last 20 years, the report has analysed trends in the demographic and economic drivers of agricultural commodity supply and demand, projected the shifts in production and consumption locations, and assessed the resulting changes in international agricultural trade patterns.  #AgOutlook