US Agriculture gets a boost from the USDA both at home and abroad; find out how the USDA has been advancing your ag operation as of late.
The USDA provides an array of services to US farmers and ranchers on American soil, but they also put time, people, and other resources into promoting US Agriculture in overseas markets as well. From working with close neighbors like Brazil and Cuba to advocating for American ag interests in the far corners of the globe, the USDA is always working to promote US Agriculture. Below are some of the latest achievements of the USDA for US farmers and ranchers abroad.
Women in US Agriculture: Trade Mission to Hong Kong and Shanghai
The USDA Deputy Undersecretary for Farm and Foreign Agriculture Services, Alexis Taylor, recently led a trade mission group made up of professionals of seven State Departments of Agriculture and 23 U.S. agribusinesses in two Asian countries. The trade mission was aimed at expanding export opportunities for US food and ag products, and to extend the USDA’s Women in Agriculture initiative abroad. Read more here.
United States Challenges Excessive Chinese Support for Three Key Crops
Three key crops in US Agriculture—corn, wheat, and rice—could expect a more level playing field in the global market. If successful, it would be thanks to new trade enforcement action by the US government against China at the World Trade Organization (WTO) over the excessive government support provided for Chinese production of the same three crops. The enforcement action accuses the Chinese government of creating conditions that inflate Chinese prices for corn, wheat, and rice above market levels, creating artificial government incentives for Chinese farmers to increase production. Under WTO rules, such support is not allowed. Read more here.
China Moves to Reopen Market to US Beef
China’s markets have been closed to US beef since a ban in 2003 due to a case of mad cow disease. At the time, US agriculture saw $3 billion in beef exports to China and other countries. In 2004, after China and other countries enacted their bans against US beef, beef exports fell by nearly $2 billion. While tireless efforts by the USDA have restored beef exports above 2003 levels—they’re currently at $5.8 billion—China only recently announced it was lifting its ban on US beef. Forecasts estimate beef exports to China could total $2.3 billion or more. Read more here.
At AgAmerica Lending, keeping a hand on the market pulse for US agriculture is key component of what we do. With our expert knowledge, we help US farmers and ranchers grow, thrive, and compete in a global marketplace using our low interest rates, long amortizations, and an outstanding 10-year line of credit.
Flickr photo by Robert Anders