As harvest gets underway, trade policy remains an important topic for U.S. farmers preparing to harvest another year of bumper crops—but that bounty can result in lower prices if supply outstrips demand.
In a recent interview, North Carolina farmer and U.S. Grains Council board member Darren Armstrong discussed the importance of increasing demand through favorable trade policies.
“The best place for demand is access to some markets we don’t have right now. Overseas export markets are a great place to look,” Armstrong said . “That’s one thing that we need to keep in mind—is to keep pressing for favorable trade policy and to try and grow our demand so it can keep pace with the large crops we are growing.”
He noted that 95 percent of the population lives outside the United States, which means it’s critical U.S. farmers and others help the country be a leader in trade policy.
“We need to build bridges to these other markets where we can trade free among them. They need our products, and we to need access those markets,” he said.
The Trans-Pacific Partnership (TPP) offers a critical avenue for increased global trade, offering access to populations representing more than 40 percent of global gross domestic product (GDP).
“TPP really is a great opportunity to access some places that we might not be able to get to now and is an important part of our export program.”
But time is of the essence.
“The longer it takes to implement a program, it’s that much longer we are not in a market, and that gives a competitor of ours the opportunity and time to get in those markets ahead of us,” Armstrong said.
For more information on TPP, including resources for use in outreach, click here.