May 16, 2007

US pork council supports government deal on FTA

The US National Pork Producers Council (NPPC) has congratulated the Bush administration, House Speaker Nancy Pelosi and the Congress in pushing forward bilateral free trade agreements (FTA) which is deemed to significantly increase exports of US pork.

Through legally binding mechanisms, the administration and the Congress have agreed to add standards on labour and the environment to pending and future trade agreements.

The US will move forward FTAs with Colombia, Panama, Peru and South Korea.

According to Iowa State University economist Dermot Hayes, full implementation of the trade pacts are estimated to increase US live hog prices per animal by US$1.63, US$0.20, US$0.83 and US$10, respectively.

NPPC president Jill Appell said NPPC is earnest to see all four pending FTAs approved by Congress prior to August recess.

She added the profitability of US pork will rely heavily on international trade agreements.