Categories: Michigan Business NewsMichigan News

Michigan Sets Record in Agriculture Exports – $2.9 Billion in 2024!

Agricultural fields in Michigan highlighting corn, snacks, and dairy production.

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News Summary

Michigan has achieved a remarkable milestone in 2024, with agricultural exports totaling $2.9 billion, marking a significant increase from the previous year. Key contributors to this success include bulk corn, snack products, and dairy, with the Upper Peninsula playing a vital role, especially in seed potato production. Despite the achievements, experts are cautious about potential tariffs affecting future exports. With a notable economic impact of approximately $4.4 billion, Michigan’s agricultural sector continues to thrive, even as foreign ownership of farmland rises.

Michigan Sets Record in Agriculture Exports – $2.9 Billion in 2024!

In an exciting turn of events, the wonderful state of Michigan has hit a **breathtaking milestone** in its agricultural industry this year! With a whopping total of $2.9 billion in food, agriculture, and forest product exports, it’s safe to say that 2024 is paving the way for a productive and prosperous future.

Yearly Growth is Impressive!

This impressive figure marks an increase of $282 million compared to the previous year, 2023. Clearly, Michigan’s farmers and producers are hitting the mark, ready to showcase what they do best to the world!

What’s on the Menu?

So, what’s contributing to this record-breaking tally? The list of key products is nothing short of mouth-watering. Bulk corn, snack products, dried fruit, and dairy products have been flying off the shelves and onto trucks and ships bound for eager customers near and far. From cornfields to snack factories, every corner of Michigan’s agricultural scene is buzzing with activity.

The Upper Peninsula’s Contribution

And let’s not forget the heroes from the Upper Peninsula! This region has made significant contributions to the record successes, especially through wood product exports. More notably, the area is a powerhouse when it comes to seed potato production. If you’ve ever munched on some tasty potato chips made in Michigan, there’s a good chance the potatoes came from this region.

A standout among the local farms is Hanson Seed Farm located in Cornell. This farm grows seed potatoes that are shipped not just all over Lower Michigan, but also to states like Wisconsin and even across the border into Canada! Remarkably, the U.P. produces at least half of Michigan’s seed potatoes, contributing greatly to the state’s overall agricultural achievements.

Packing Up for Export

In fact, did you know that over 50% of the potatoes grown in Michigan leave the state? They’re primarily destined for potato chip production, which is a great thing for snack lovers everywhere.

Future Considerations

But while we’re celebrating these great numbers, there’s a bit of uncertainty on the horizon. Experts are keeping an eye on potential future tariffs that may affect exports, especially since the majority of Michigan’s products are imported by Canada and Mexico. Even with these concerns, the record-breaking performance underscores the incredible resilience and strength of Michigan agriculture.

Economic Impact

Speaking of strength, Michigan’s total agricultural exports create a significant economic impact, estimated at approximately $4.4 billion statewide. This means that not only are farmers thriving, but the broader economy benefits as well.

Foreign Ownership & Michigan Farmland

5.8% to 8.6% in just two years. Michigan is among the top states experiencing this increase, correlating mainly with large purchases of forest land in the Upper Peninsula.

Interestingly, around 90% of Michigan’s foreign-owned agricultural acres are situated in this beautiful region. Keweenaw County stands out, boasting the highest amount of foreign-owned agricultural acres at an astounding 370,345 acres. Notably, it’s Canadian investors who hold the largest share of foreign-owned agricultural land in the U.S.

Clearing Up Misconceptions

Despite some misconceptions, foreign ownership accounts for less than 1% of farmland acres in the U.S., and Michigan has no farmland owned by Chinese investors. Thus, while the topic of foreign ownership may sound alarming, it is vital to put these figures into perspective.

Looking Ahead

As Michigan continues to set new records in agriculture exports, it’s clear that the state’s farmers and producers are making a significant mark. Let’s cheer them on as they keep striving towards even greater heights in the future!