Wisconsin Ag Connection - State Corn Growers Excited to See Action on Trade Agreements

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State Corn Growers Excited to See Action on Trade Agreements
Wisconsin Ag Connection - 10/05/2011

A state farm organization is applauding the White House for submitting the long standing Colombia, Korea and Panama Free Trade Agreements for ratification by Congress. Wisconsin Corn Promotion Board President David Adams says all three trade agreements provide significant opportunities for U.S. agriculture.

"This will immediately eliminate import duties on the vast majority of U.S. agricultural commodities, such as corn and distillers' grains from ethanol plants," Adams says.

Earlier this week, President Barack Obama sent Congress legislation for free-trade agreements with the three countries--ending a wait for business supporters that spanned more than four years and two presidencies.

The WCPB claims that Wisconsin feed grain exports to all countries totaled $379 million of the total $2.2 billion in agricultural products exported during 2009. According to government estimates, the three FTAs will result in $2.5 billion in additional sales and lead to the creation of over 20,000 jobs.

"Each of these countries is an important market for corn and distillers' grains for feed, and the FTAs offer significant opportunities for growth," Adams notes.

He adds that even with implementation of the deals, Wisconsin, by partnering with the U.S. Grains Council, will have to immediately re-engage and work aggressively to rebuild U.S. partnership with the Colombian officials, trade authorities and end-users to regain market share with one of the fastest growing economies in South America for coarse grains.

The Wisconsin Corn Promotion Board provides funding for corn marketing initiatives through the state corn checkoff program, which collects one-half cent for every bushel of Wisconsin corn sold.

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