In a letter sent this week to U.S. Trade Representative Katherine Tai and Agriculture Secretary Tom Vilsack, 22 Republican senators ask what specific actions the Biden administration plans to take this year to increase U.S. agricultural exports. The letter cited data from the last fiscal year (FY), which shows that U.S. agricultural exports declined by more than $17 billion, and recent forecasts show a further decline of more than $8 billion in FY 2024.
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Most U.S. consumers surveyed in February 2024 predicted that food prices would increase over the next 12 months. Sixty-four percent of respondents predict food prices will rise in the next year, and the average predicted increase is 3.7 percent, according to the February Consumer Food Insights Report.
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