2012 outlook for the
While there are a number of good things to look forward to in 2012,
there is still work that needs to be done – all the more so because it’s
an election year.
As we begin 2012, I wish everyone
a happy and prosperous New Year.
I hope you can capitalize on the
opportunities a gradually improving economy, as well as the effects
the recent free trade agreements will bring.
However, we will also have to successfully deal with key
issues in this
including the in-
president and CEO
of the American
creased and volatile price of corn and other
feed commodities, and the continued implementation of the Food Safety Modernization
Act. Of course, 2012 is an election year, which
will have its own impact on the industry.
Free trade treaties
Significant opportunities for the industry
are included in the ratification of the free trade
treaties with Korea, Panama and Colombia,
approved in late 2011, after being stalled
on Capitol Hill for years. Increasing exports
has been a top priority for our country. With
global demand for meat, milk, eggs and fish
continuing to rise, it is important for the U.S.
to level the international playing field in order
to better participate in these markets.
The U.S. lost a majority of market share in
these countries to other nations while waiting
on Congress to act. Now, these agreements
will eliminate import barriers to U.S. products,
such as a 25% tariff on pork products, imme-
diately. In fact, all three agreements provide
U.S. food and agriculture products the same
import rights these countries enjoy when
shipping their products to the U.S.