By Scout Nelson
In a year of unprecedented success for U.S. agriculture, Nebraska emerged as a standout, setting a new record in agricultural exports. In 2022, the state's agricultural exports soared to $9.97 billion, an 8% increase from 2021. This achievement marks the third consecutive year of record-breaking export values, with an impressive growth of $3.7 billion since 2019.
Among the states, Nebraska ranked fifth in agricultural exports, only behind California, Iowa, Illinois, and Minnesota. The state led the nation in beef exports, valued at $1.86 billion. Additionally, it held significant positions in other commodities: second in hides and skins, third in corn, feed, and processed grain products, and fifth in soybeans, soybean meal, and vegetable oil.
The top exports - soybeans, corn, and beef - accounted for nearly two-thirds of Nebraska's total exports. Soybeans saw a 23% increase from the previous year. China remained the largest market for soybeans, with notable growth in Mexico, the European Union, Egypt, and Japan.
Corn exports, though slightly reduced, still recorded the second-highest levels, with China, Mexico, and Japan as the primary buyers. Beef exports grew by 13%, with significant demand from East Asian countries like South Korea, Japan, and China.
2023 poses challenges for U.S. agricultural exports, with a stronger dollar, global economic slowdown, and geopolitical factors impacting growth. Expectations of a decline in exports have been met with a more severe downturn than anticipated, likely ending Nebraska's streak of record-setting years.
Photo Credit: nebraska-department-of-ag
Categories: Nebraska, Business