Publications

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  • Global Growth, Macroeconomic Change, and U.S. Agricultural Trade

    ERR-46, September 04, 2007

    Rising incomes in emerging markets are propelling U.S. export growth, while consumer demand for diversified products is a primary driver of import growth.

  • China Currency Appreciation Could Boost U.S. Agricultural Exports

    WRS-0703, August 22, 2007

    U.S. exports of soybeans and cotton to China have boomed in recent years, but the undervalued exchange rate for the Chinese yuan keeps prices of most other U.S. food and agricultural products more expensive than Chinese products. On average, Chinese retail food prices are about a fourth of U.S. prices. Land-extensive commodities like soybeans, cotton, corn, and wheat have relatively high prices in China, but soybeans and cotton are the only major crops that China imports in significant quantities. With an undervalued exchange rate China's prices are not high enough to attract imports of grains or most livestock products. Appreciation of the Chinese currency would increase the purchasing power of Chinese consumers on world markets and increase China's demand for imported commodities. However, Chinese policymakers are likely to maintain a cautious approach to currency appreciation, motivated in part by farm income and food security concerns.

  • Agriculture in Brazil and Argentina: Developments and Prospects for Major Field Crops

    WRS-013, December 28, 2001

    This report identifies key factors underlying the agricultural productivity growth and enhanced international competitiveness of Brazil and Argentina in the past decade. Economic and policy reforms, infrastructure development, and enhanced use of agricultural inputs that drove output growth during the 1990s are discussed. This report also compares Brazilian, Argentine, and U.S. soybean production costs and evaluates the combined impact of production, marketing, and transportation costs on the overall export competitiveness of each country's soybean producers. Finally, the outlook for continued growth in output and exports of key commodities is assessed.

  • Agricultural Policy Reform in the WTO--The Road Ahead

    AER-802, May 15, 2001

    Agricultural trade barriers and producer subsidies inflict real costs, both on the countries that use these policies and on their trade partners. This report quantifies the costs of global agricultural distortions and the potential benefits of their full elimination. The report concludes that eliminating global agricultural policy distortions would result in an annual world welfare gain of $56 billion. The report also analyzes the effects on U.S. and world agriculture if only partial reform is achieved in liberalizing tariffs, tariff-rate quotas (limits on imported goods), domestic support, and export subsidies.

  • USDA Agricultural Baseline Projections to 2010

    WAOB-011, February 22, 2001

    This report provides long-run (10-year) baseline projections for the agricultural sector through 2010. Projections cover agricultural commodities, agricultural trade, and aggregate indicators of the sector, such as farm income and food prices.