The recent strength of the U.S. dollar has lowered demand for domestic agriculture products.
And, as the United Kingdom’s exit from the European Union has continued to strengthen the value of the dollar, it’s unclear when agriculture producers can expect to see exports increase.
According to Trading Economics, the U.S. dollar has risen approximately 25 percent against other major currencies over the past 18 months. This makes U.S. products more expensive when purchased abroad, as the currency exchange rate continues to increase. Additionally, foreign farmers will enjoy larger profits as they exchange U.S. dollars for their local currencies.
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