Platte, Cuming, Antelope and Boone counties among top 5 to benefit from trade | Agriculture
The Nebraska Farm Bureau has identified three business priorities for the Biden administration after a year of little movement on the subject.
As the majority of global consumers reside outside of US borders, international trade is vital to the economic future of Nebraska’s farming and ranching families. The success of international trade has led to agricultural exports consistently accounting for about 30% of every dollar going into the pockets of Nebraska farmers and ranchers.
“It is essential that the administration understands the link. It’s been a year since President Biden took office and we’ve seen next to nothing happen when it comes to trade. That’s why we’ve identified these business actions the administration can take to support our farming and ranching families. Market growth is critical to the health and profitability of our family businesses,” said Mark McHargue, president of the Nebraska Farm Bureau.
The Farm Bureau’s list of trade priorities includes growing new markets, reaffirming the importance and reforming the World Trade Organization (WTO), and topping the list is working to build a trade relationship at term with China while holding them accountable to the international community. business rules.
Given the importance of China as a trading partner for American farmers and ranchers, it is vitally important that the United States and China move beyond the phase one agreement. The Nebraska Farm Bureau is urging President Joe Biden to normalize trade relations with China and push for the complete elimination of all tariffs on U.S. agricultural products destined for China. At the same time, forcing China to abide by approved international trade rules is also key, McHargue said.
The 2020 report shows the value of Nebraska’s agricultural exports at $7.1 billion in 2020. Nebraska remained the fifth-largest agricultural exporting state in 2020, leading the nation in beef exports, while being the second-largest exporter of hides and skins, the third largest exporter of corn, animal feed and processed grain products, and the fifth largest exporter of soybeans, soybean meal and vegetable oil.
The report tabulated the unit value of agricultural trade for soybeans at $8.47 per bushel, $1.02 per bushel for corn and $3.60 per bushel for wheat. The report forecast the unit value of trade at $188.31 per head for beef, down from 2019, and $83.31 per head for pork.
According to the report, there was little change between 2019 and 2020 in top export commodities for Nebraska counties. Soybeans were again the top export product for more than half of Nebraska counties, 49 counties in total, seven more than in 2019. Corn slipped as the top export product for 11 counties l year to 10 counties this year. Just two years ago, corn was the main export product in 31 counties. The number of counties with beef as their top export product, 30 counties, also decreased in 2020 from 34 counties in 2019. Wheat was the top export county in four counties.
Platte County still ranks first in agricultural export value in 2020. Custer, Cuming, Antelope and Boone counties round out the top five export counties in 2020.
Platte County recorded an estimated $191 million worth of agricultural trade in 2020.
Other Farm Bureau priorities for the administration include growing new markets, including Congressional reauthorization of the Trade Promotion Authority (TPA) for the president, giving the administration the flexibility to negotiate deals. commercial agreements. The Nebraska Farm Bureau has long supported granting the TPA to either political party because of its strong support for expanding into new markets. While members of the Biden administration have been cautious in taking this step, asking for the TPA extension and working with Congress to get clearance would show the rest of the world that the administration takes trade expansion seriously. and that the United States is open for business, according to the Nebraska Bureau of Agriculture.
“We also encourage the Biden administration to actively work for the United States to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Nebraska farmers and ranchers captured much of the benefits of CPTPP participation in the form of lower tariffs on U.S. beef and pork thanks to President Trump’s trade deal with Japan in 2020. However, there are still areas of improvement that can be made, and the rest of the economy has been largely left out of President Trump’s deal,” McHargue said.
Apart from imports and exports, the value of US membership in the CPTPP would be to help the US gain a greater leadership role in the region and fend off China’s influence. President Biden must pull the United States out of the sidelines and sign the CPTPP, McHargue said.
The report, released annually since 2017, acts as a barometer demonstrating the importance of trade to Nebraska’s farmers, ranchers and economy. Estimates are calculated using final USDA trade figures released in October 2021.