US: Industry welcomes free trade deals
Cargill says the passing of the free trade agreements will improve living conditions globally
Commodity, pork and dairy companies in the US have welcomed the passing of free trade deals with South Korea, Colombia and Panama.
Congress approved the agreements on Wednesday (12 October), eliminating tariffs on US products exported to those countries.
Agribusiness giant Cargill, pork producer and processor Smithfield Foods, the National Pork Producers Council (NPPC) and the International Dairy Foods Association (IDFA) all released statements praising the agreements, which they say will boost exports and create jobs.
Smithfield president and CEO Larry Pope called the developments a "major victory" for the pork industry as the Department for Agriculture predicts that meat and poultry exports will increase by US$2.1bn a year to South Korea alone. He said: "Under the South Korea FTA, US pork exporters and others in the protein industry will be on a level playing field with our global competitors for the South Korean market."
The NPPC called the passing of the free trade agreements one of the "greatest victories ever for the US pork industry" and claims it will create 10,000 jobs.
However, Doug Wolf, NPPC president and a pork producer from Wisconsin, warned the agreements must be put into place without delay
"The longer it takes to implement, the more US market share in these nations will be imperilled", he said.
The three agreements, meanwhile, will bring the dairy industry $400m in annual exports of cheese, whey, milk powders and other dairy products, said the IDFA, which "commended" the US government's actions.
Elsewherer, US agribusiness giant Cargill called the developments a "significant milestone in US trade history" and predicts they will improve living conditions around the world.
Stevia has been widely used - with some success - in carbonated soft drinks and table-top sweeteners containing the ingredient continue to be launched. However, suppliers are increasingly looking at h...
For all the talk of stevia's potential, there are concerns over the ingredient, not least in the quality of supplies and the taste of products that contain the sweetener....
A number of major suppliers have built a significant presence in the stevia sector, with new entrants emerging. Jonathan Thomas looks at the major players in the industry - Cargill and PureCircle - an...
The intensely competitive nature of the UK food retail sector came to the fore this week, with Tesco outlining how it believes it can revitalise stagnant sales, Morrisons underlining its plans to deve...
- 2017: three major drivers of M&A strategy
- just-food 2017 Survey - your thoughts on growth
- 2017 - what will shape the UK food sector?
- Could BRF's Turkey move pave way for OneFoods IPO?
- Food market in 2017: big foodservice trends
- Ferrero insists Nutella not pulled from shelves
- Premier Foods issues profit warning
- UK's Bakkavor plays down IPO "speculation"
- PepsiCo launches Walkers Mediterranean in UK
- Kellogg names Fareed Khan as incoming CFO