The value of farm exports is expected to decline.

According to the Agriculture Department, U.S. farm exports for the fiscal year that ends Sept. 30 will total about $32 billion, down 16% from the more than $38 billion reported in 1983-84. The new report showed a $1.5-billion decline from that mark and indicated that the slump will extend into the next fiscal year. This year’s slide “is attributable to sluggish demand, increased foreign supplies and the ability of competitors to undercut U.S. prices,” it said. Imports of agricultural products, meanwhile, are expected to rise to a record $20 billion this fiscal year from a 1983-84 level of $18.9 billion.