Ag trade deficit to set back-to-back-to-back records
The U.S. food and ag trade deficit will soar to a record $42.5 billion in the fiscal year opening on Oct. 1, fueled by steadily growing consumer demand for imported fresh produce, alcohol, coffee, and sugar, said USDA economists on Tuesday. It would be the third year of largest-ever deficits while export sales, hobbled by the strong dollar, retreat from the record set in fiscal 2022.