(Posted Mon. Oct 3rd, 2011)
Oct. 3: The National Corn Growers Association today applauded President Obama for sending the pending Free Trade Agreements (FTAs) with Korea, Colombia and Panama to Congress for consideration.
“NCGA strongly supports the pending FTAs with Korea, Colombia and Panama, and we are pleased to see President Obama understands the importance of expanding trade,” NCGA President Garry Niemeyer said. “The United States is the largest producer and exporter of corn in the world, exporting over 50 million metric tons of corn worldwide in the 2009-10 marketing year. These pacts represent significant markets for our nation’s corn and corn co-products as well as opportunities for our customers in the livestock industry.”
Korea is the United States’ third largest corn market and potentially an important market for distillers’ grains. Colombia has traditionally been one of the top 10 export markets, but is currently importing corn from U.S. competitors because of an import duty preference. Panama is one of the fastest-growing economies in Latin America. Corn exports there have dropped 20 percent from their 2008 peak.
“NCGA remains committed to the development and maintenance of free and open trade policies and we ask Congress to move swiftly on passage,” Niemeyer said. “As we await Congress’ action, our farmers continue to watch other nations receive preferential access to markets and receive a competitive edge.”