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USDA Announces Planned Trade Missions for 2024
Agriculture Secretary Tom Vilsack today announced next steps in the U.S. Department of Agriculture’s efforts to bolster U.S. agricultural trade, including the department’s planned trade missions for 2024 and the opening of a public comment period for the new Regional Agricultural Promotion Program (RAPP). These efforts will help to support further growth in U.S. agricultural exports and introduce high-quality U.S. agricultural products to new markets.
“Market diversification is an important tool for maximizing growth opportunities for U.S. agriculture, as well as hedging...
Import Cargo Slowing Along with Spending Growth
Import cargo volume at the nation’s major container ports has already hit its expected peak for the year and should gradually slow headed into the holiday season, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“Cargo volumes will still be strong the rest of the year, but not as high as we expected a month ago,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Retailers stocked up early this year as a safeguard against supply chain labor issues and are...
TMF at Ports of Los Angeles and Long Beach to Increase 4% on November 1, 2023
The West Coast MTO Agreement (WCMTOA) today announced that on November 1, 2023, the Traffic Mitigation Fee (TMF) at the Ports of Los Angeles and Long Beach will increase by 4%. The adjustment matches the combined 4% increase in longshore wage and assessment rates recently ratified in the coastwide contract between the International Longshore and Warehouse Union and the Pacific Maritime Association.
Beginning November 1, the TMF will be $35.57 per TEU (twenty-foot equivalent unit) or $71.14 per forty-foot container...
USMEF Partners with Chilean Importer to Grow its Portfolio of U.S. Pork Cuts
To address reduced U.S. pork sales with a major importer in Chile, USMEF South American Representative Jessica Julca worked with the importer to develop a client database to segment its customers based on their purchasing patterns and potential needs.
“El Carnicero used to import several cuts of U.S. pork but with greater availability from competitors, they were down to importing one U.S. cut,” says Julca. “The database contains purchasing data for 211 of its customers and helps them to identify loyal customers and market opportunities...
Partnerships Key to Market Development Efforts for U.S. Pork Loin in Peru
U.S. industry partnerships are behind a U.S. pork loin initiative with a major importer in Peru. Critical to the success of this initiative were technical cutting demonstrations performed for importers last year by Dr. David Newman, senior vice president for market growth for the National Pork Board (NPB) and a past member of USMEF’s executive committee.
During a USMEF-led, NPB team visit last year, Dr. Newman conducted a pork fabrication seminar for Peruvian importers to demonstrate new ideas for...
U.S.'s Yellen Begins China Visit with Both Sides Locked in Confrontation
U.S. Treasury Secretary Janet Yellen arrived in the Chinese capital on Thursday, beginning a four-day visit expected to focus on easing ties between the world's two largest economies, despite low expectations on both sides.
Yellen received a low-key welcome from a Chinese finance ministry official and the U.S. envoy to China, Nicholas Burns, as she stepped off a government aircraft just after a rainstorm brought some relief to an otherwise sweltering Beijing.
Both sides are sceptical that Yellen's visit will be able to take much heat...
U.S., China Start Talking Again, With Global Economic Order at Stake
Washington and Beijing are talking again. The test now is whether they can settle into a new normal that avoids upending the global economy—or fall back into a cycle of acrimony and retaliation.
Treasury Secretary Janet Yellen heads to China on Thursday through Sunday to meet with senior government officials, her department said Sunday. The trip comes as tensions over trade, technology and Taiwan prompt both countries to reconsider the deep commercial and investment ties that have defined the relationship for decades. Yellen is hoping to preserve...
Cargill to Sell China Poultry Unit to Private Equity Firm DCP Capital
U.S. agribusiness giant Cargill said it is selling its poultry business in China to private equity firm DCP Capital, exiting a Chinese meat market that has become increasingly challenging, especially for foreign players.
The sale of the unit known as Cargill Protein China is subject to regulatory approvals but is expected to close this year, Cargill said in a statement on Wednesday.
It did not give a transaction price and DCP declined to comment on the deal.
China is the world's No.2 poultry producer after the...
March Pork Exports Largest in Nearly Two Years; Beef Exports Show Signs of Rebound
March exports of U.S. pork were the largest since May 2021, according to data released by USDA and compiled by USMEF. While below last year’s high volume, March beef exports were the largest since October.
March pork exports totaled 260,195 metric tons (mt), up 17% year-over-year and the ninth largest volume on record. Export value was also ninth largest at $724 million, up 18% from a year ago. These results capped a strong first quarter for U.S. pork as exports reached 716,691 mt...
NPPC Statement on Philippines Extension of Reduced Pork Tariff Rates Through 2023
Statement by Terry Wolters, NPPC president and owner of Stoney Creek Farms in Pipestone, Minnesota:
“The National Pork Producers Council (NPPC) applauds Philippine President Ferdinand Marcos Jr’s announcement on the extension of lower tariff rates on pork and other food items. Gaining better market access to the Philippines has been a top trade priority for U.S. pork producers. We hope that the U.S. and the Philippines will continue to work toward establishing better market access through the Indo-Pacific Economic Framework...
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