The U.S. balance of trade for fruits and vegetables is swinging heavily to imports, with avocados and berries seeing huge growth over the past decade, according to the U.S. Department of Agriculture. While this may not help improve the country’s trade deficite, it means increased loading opportunities for produce haulers.
The USDA in its annual report of trade projections, estimates the trade deficit in fresh fruits and vegetables will grow from about $7.6 billion in 2014 to $16.5 billion by 2024.
The total value of fresh fruit and vegetable exports will grow from $7.3 billion in 2014 to $10.7 billion in 2024, while imports will grow even faster, climbing from $14.9 billion in 2014 to $27.2 billion in 2024.
The projections are built on trade trends over the past 10 years.
The last time the U.S. had a trade surplus in fresh fruits and vegetables was 1980, when the margin of exports over imports was $25 million. By 1990, the trade deficit in fresh fruits and vegetables was $530 million, increasing to $1.8 billion by 2000 and $6.2 billion by 2010.
Imports will supply 53 percent of U.S. fruits and nuts by 2024, up from 45 percent in 2014, while the USDA said the share of vegetables from imports will rise from 19 percent in 2014 to 26 percent in 2024.
Lower trade barriers have boosted U.S. exports and imports.
Climbing imports
“Twenty years ago you never would have thought of having citrus (imports) in the summer or grapes in November,” said Mayda Sotomayor, CEO of Seald Sweet International, Vero Beach, Fla. “You just had gaps, and consumers lived with gaps.”
Today, Sotomayor said those gaps are now mostly gone, thanks to new varieties, growing areas and storage technology.