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Business Briefs - August 23, 2017
 
Baucus and Lugar advancing pro-ag trade agreements
 
WASHINGTON, D.C. — Former Sen. and recent U.S. Ambassador to China Max Baucus and former Chair of the Senate Agriculture Committee Richard Lugar announced the formation of Farmers for Free Trade (FFT) – a bipartisan 501(c) (4) nonprofit focused on driving global competitiveness for the U.S. agriculture industry.

The honorary co-chairs plan to build a grassroots powerhouse that informs, mobilizes and amplifies the voice of U.S. farmers and ranchers who depend on worldwide markets. In 2016, U.S. agriculture exported $129 billion worth of products and has a projected trade surplus of $20 billion in 2017. America exports 50 percent of all major commodity crops including corn, wheat and soybeans, 70 percent of fruit nuts and 25 percent of pork.

Additionally, exports account for 20 percent of all U.S. farm revenue and depend on strong relations with key trading partners such as Canada, Mexico, China and Japan.

With the U.S. withdrawal from the Transpacific Partnership (TPP), the announcement of NAFTA modernization talks and global competitors aggressively filling the void, the former senators said U.S. farmers are already experiencing disruptions resulting from market turmoil.

Sara Lilygren, chair of the FFT board of directors, brings more than 37 year sexpertise in food and agriculture advocacy, including 20 years with the meat and processed food industry, non-governmental organizations, as well as 15 years leading Tyson Foods, Inc. global corporate affairs.

For more information, email info@farmersforfreetrade.com and follow Farmers for Free Trade on social media under @FarmersForTrade or visit www.FarmersForFreeTrade.com

Ag lenders provide freezers for Kentucky food pantries

FRANKFORT, Ky. — To help solve the challenge of food insecurity in Kentucky, agricultural lenders Farm Credit Mid-America and CoBank are providing chest freezers to more than 120 food pantries across the state.

The freezers will enable increased donation and distribution of Kentuckyraised beef, pork and poultry as part of Agriculture Commissioner Ryan Quarles’ Hunger Initiative. One year ago, he launched the program that works to identify food solutions for Kentuckians who need it most. Working with the Kentucky Assoc. of Food Banks (KAFB), the Kentucky Department of Agriculture’s Hunger Initiative represents a collaboration of farmers, educators, restaurateurs, food distributors and chefs.

One of the snags that the Hunger Initiative and the food banks encountered was the lack of cold storage at food pantries for food requiring refrigeration.

Farm Credit Mid-America Senior Vice President Mark Barker said the donation aligns with Farm Credit’s and CoBank’s purpose of securing the future of rural communities and agriculture by investing in the communities where they and their customers live and work.

Growmark, COFCO announce grain partnership in Illinois

BLOOMINGTON, Ill. — COFCO International Limited and Growmark, Inc. are delighted to announce the creation of a new grain partnership, bringing together the robust farmer cooperative network of Growmark with the global trading power of COFCO to develop an extensive supply chain, directly linking the farmers from the richest food production areas of North America to the global feed and food industry, including its largest demand market, China.

The partnership includes joint ownership and operation of the barge, truck and rail terminal at Cahokia, Ill., with frontage on the Mississippi River, as well as a grain origination agreement. Growmark will staff a grain merchandiser in COFCO’s St. Louis office to originate grain and service patron accounts.
8/23/2017