Farm Equipment magazine reports:
The Port of Baltimore is a key hub for ag equipment imports and exports in the U.S., and its closure could have a notable impact on importing high horsepower tractors specifically. A cargo ship collided with the Francis Scott Key Bridge on March 26, collapsing and rendering the port inoperable. The U.S. Army Corps of Engineers estimates the port will see limited opening by the end of April and fully operational by the end of May.
Data from the U.S. Census Bureau shows the Port of Baltimore received almost $1 billion in imported tractors over 174 horsepower last year, representing 70% of all tractor imports in that horsepower category. This was up 60% year-over-year from $603 million in imports in 2022.
The Port of Baltimore has played a growing role in importing high horsepower tractors since 2017, growing from handling 48% to now 70% of these imported tractors. For the first 2 months of 2024, the Port of Baltimore reported over $100 million in imported tractors over 174 horsepower, 59% of total imports.
The Port of Baltimore plays an even more significant role in exporting this category of tractors, seeing over $1.5 billion in these exports last year, 83% of total exports. For the first 2 months of the year, Baltimore handled 93% of all exports for tractors over 174 horsepower.
