Agricultural News
NPPC Concerned For South Korean FTA
Thu, 11 Nov 2010 17:17:52 CSTThe National Pork Producers Council has expressed disappointment that a final deal has not been reached between the United States and South Korea on issues related to trade in beef and automobiles. NPPC says, if agreement had been reached, the Free Trade Agreement would be one of the most lucrative for the U.S. pork industry.
NPPC President Sam Carney, a pork producer from Adair, Iowa, says - This would be the biggest trade agreement ever for the U.S. pork industry. It would be good for agriculture, good for business and good for the U.S. economy. Carney added, - If the two sides don’t act quickly, I am very concerned that the FTA will be overtaken by the presidential election cycle.
According to Iowa State University economist Dermot Hayes, by the end of the FTA’s 10-year phase-in period, total U.S. pork exports to South Korea will be almost 600-thousand metric tons or about 5 percent of total U.S. pork production. The FTA is projected to lift live hog prices by 10-dollars per animal and will generate an additional 687-million dollars in U.S. pork exports.
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