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Food Exports Hit Record High
CEDAR RAPIDS, IA (CBS2/FOX28) - The United States is expected to export a record amount of food this year.
The new report from the United States Department of Agriculture predicts the U.S. will export almost $150,000,000 dollars worth of fruits, vegetables, grains and meat in 2014.
Kansas State University Agricultural Economist Glynn Tonsor says the increase is because of the growth in other countries.
This is good news for U.S. ag producers because they're getting more money for their products. However the increased production means higher prices for our food.
Tonsor says expect the number of exports to continue to grow.
"Economic growth outside the U.S. continues to be fairly strong. It changes over time, but in many cases, it's stronger than the U.S. Couple that with population growth, means there's demand for many food products we produce here and in economist speak, it's being bid out of the U.S. into other consumers' hands," said Tonsor.
The volume of agricultural exports from 2013 to 2014 is expected to increase 31%.