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Shining Light on Farm & Food Policy for 20 Years.
Friday, December 20, 2024
This is the last of a three-part series on the impact of agricultural exports on the U.S. economy and the risks and promise for ag trade going forward. American commodity and ag trade groups are casting their net far and wide overseas to develop relationships and encourage trade with the United States.
When it comes to trade policy and climate, there are few indications an administration led by Vice President Kamala Harris will be much different from the one she has been a part of for four years.
Some former top economists at USDA say it’s time for Congress to reimpose restrictions on the department’s use of the Commodity Credit Corporation, a revolving account that gives USDA broad leeway to support farm income.
Mexico wants more than just a presidential decree on its genetically modified corn ban in place as it enters the final phase of a dispute with the U.S., so the country is working to solidify the prohibition in its national food production standards.
People in some of the poorest and hungriest nations in the world may be the hardest hit by India’s decision last month to ban exports of long grain, non-basmati rice – a move that’s already pushing global prices higher and forcing import-dependent countries to scramble to find supplies, according to analysts and trade data.
Moscow seems intent on letting the Black Sea Grain Initiative expire this coming Monday, but the United Nations is equally resolved to preserve the deal and prevent food prices from rising in some of the poorest nations.
Russia is once again raising doubts about the renewal of the Black Sea Grain Initiative and the long-term viability of the improbable wartime deal that is allowing Ukraine to supply much of the world with grain and keep food prices from skyrocketing in some of the poorest countries.
The United Nations, fresh off a scare from Russia’s threat to withdraw from the Black Sea Grain Initiative and 10 days from the extension deadline for the deal, is desperate to show Moscow that it’s serious about improving Russian fertilizer exports.
The potential for increased trade with India is substantial, but the country has refused to commit to the trade pillar of the Indo-Pacific Economic Framework and some in the U.S. ag sector are pessimistic about changing the country’s direction.
The World Trade Organization squeaked out a win in the final hours of its summit this week in Geneva, agreeing to prohibit all of its 164 nations from refusing to provide food commodities to the World Food Program for its humanitarian efforts.
