Imports of Agricultural Products
Are we really still the land of plenty?
According to a recent report from the United States Department of Agriculture, America is on a path to becoming a net food importer. In other words, imports of agricultural products are soon expected to be greater than agricultural exports.
The data from the USDA says agricultural exports are expected to grow at an annual rate averaging 0.8% per year from 2021 through 2031, while the value of U.S. agricultural imports is projected to increase by an average annual rate of 6% over that same period. That means that the domestic demand for an array of agricultural products and goods would exceed domestic production.
One needs to ponder what this shift means for the long-term food security of America if the country gets to the point where it cannot fully feed itself.