November 25, 2019
The long tradition of U.S. prominence in sales of farm commodities to international markets will likely continue for the next decade, according to a report by the U.S. Department of Agriculture’s Economic Research Service (ERS).
But farmers and ranchers in this country will likely face much more competition from foreign suppliers in the future.
As a result, to maintain their market shares, U.S. farm families must increase their efficiency and reduce production costs.
Florida fruit and vegetable growers have experienced the long-term effects of foreign competition in the domestic market.
Authors of the report note that nations such as Argentina, Australia, Brazil, India, Russia and Ukraine have acquired larger shares of foreign markets by improving their farm production and securing beneficial trade agreements.
China will also have a key influence in international market access with its trade policies and subsidies for its own farm commodities.
A copy of the report is posted at http://bit.ly/2sj1KMR.
(Photo courtesy of Jaxport)