Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm Programming Radio Oklahoma Network  |  7401 N. Kelley Ave. Oklahoma City, OK 73111  |  (405) 841-3675  |  Fax: (405) 841-3674


Agricultural News

U.S. Wheat Industry Welcomes U.S-Korea FTA Implementation

Thu, 15 Mar 2012 09:51:37 CDT

U.S. Wheat Industry Welcomes U.S-Korea FTA Implementation
The U.S. wheat industry is very pleased to see the United States-Korea free trade agreement (FTA) go into effect. U.S. wheat farmers face effective competition for Korea’s milling wheat import market and the agreement immediately eliminates the bound tariff on U.S. wheat.

“While that tariff has not been a huge impediment, removing it will help U.S. producers compete with other wheat exporters and help Korean flour millers spend less to buy our wheat,” said Randy Suess, a wheat farmer from Colfax, Wash., and chairman of U.S. Wheat Associates (USW).

South Korea is consistently a top ten market for U.S. wheat and imported more than 1.6 million tons of U.S. wheat valued at approximately $468 million in marketing year 2010/11.

“Our industry is uniquely trade-dependent, with about half of our production moving to overseas markets each year," said Erik Younggren, a wheat farmer from Hallock, Minn., and president of the National Association of Wheat Growers (NAWG). “Hopefully, the results from the U.S.-Korea FTA will encourage implementation of bilateral agreements with Colombia and Panama that were ratified last year.”

U.S. wheat producers look forward to implementation of the FTAs with Colombia and Panama as soon as possible so that customers there may also benefit from zero tariffs.

The United States is the world’s largest wheat exporter, offering customers around the globe a reliable, high-quality supply of all six wheat classes.

In the 2010/2011 marketing year, ended May 31, 2011, the U.S. exported nearly 1.3 billion bushels of wheat valued at $10.3 billion, supporting thousands of jobs and economic benefits across the country.



WebReadyTM Powered by WireReady® NSI


Top Agricultural News

  • Terry Peach Named State Executive Director of the Oklahoma Farm Service Agency  Sat, 28 Nov 2015 18:27:36 CST
  • Friday's Closing Market Wrap Up with Tom Leffler  Fri, 27 Nov 2015 13:38:38 CST
  • Ears of Corn Sent to Democratic Politicians to Remind Them of Importance of RFS to Rural America  Fri, 27 Nov 2015 09:21:55 CST
  • Oklahoma State Vet Dr. Rod Hall Talks with Glenn Selk About the Veterinary Feed Directive  Fri, 27 Nov 2015 09:14:42 CST
  • Atop the RON Rural Soapbox - Former Secretary John Block  Fri, 27 Nov 2015 08:22:48 CST
  • Friday Preopening Market Update with Tom Leffler  Fri, 27 Nov 2015 08:07:07 CST
  • Future of Enlist Duo in Doubt As EPA Withdraws Registration of 2,4-D and Glyphosate Product  Fri, 27 Nov 2015 06:54:55 CST
  • USMEF’s Phil Seng Finds Opportunity Knocks to Sell Beef Globally  Wed, 25 Nov 2015 15:48:33 CST

  • More Headlines...


    Ron salutes our daily email sponsors!

    P&K Equipment Oklahoma Farm Bureau National Livestock Credit Wireless Pioneer Stillwater Milling American Farmers & Ranchers Tulsa Farm Show Croplan Genetics Farm Assure Oklahoma Cattlemen's Association KIS FUTURES, INC.

    © 2008-2015 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup

    WebReady powered by WireReady® NSI