Agricultural News
American Soybean Association says we are losing subsantial market shares without FTA's
Tue, 24 May 2011 15:39:07 CDT
In a press conference today on Capitol Hill, many agricultural organizations joined together and urged the Obama administration to send to Congress implementing legislation for and lawmakers to approve the free trade agreements with Colombia, Panama and South Korea.
The American Farm Bureau Federation, American Soybean Association, National Association of Wheat Growers, National Cattlemen's Beef Association, National Pork Producers Council and National Corn Growers Association all came together in calling for action on the federal trade agreements.
Richard Wilkins, American Soybean Association board member and Delaware farmer, said, "While we are sitting on the sidelines, we are losing substantial market shares."
U.S. soybean farmers have already lost substantial market shares to competitors because of the delay in the Columbian trade agreement. Also, U.S. soybean product exports were down 64% in 2010 from the 2008 levels.
Passing these free trade agreements would benefit the U.S. economy. The Agriculture Department estimates that for every billion dollars in exports, nearly 9,000 jobs are supported here in the United States.
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