A new study commissioned by the U.S. Grains Council and the National Corn Growers Association pegged the value of U.S. feed grain and grain product exports at a whopping $18.9 billion in 2015, supporting almost three times that amount in economic output. The study, by Informa Economics, says the exports were linked directly or indirectly to 262,000 jobs. “International markets represent demand that would not exist elsewhere,” said USCG Chair Deb Keller. “This research highlights the important economic benefits of exports that our U.S. economy depends upon to subsist.” The study found that every $1 of grain exports generated an additional $2.19 in business sales. And every job directly created by the export of grain and grain products supported an additional 4.7 jobs. The report may provide some ammunition to U.S. farm organizations who have been expressing concerns about what would happen if President Trump follows through with his threats to withdraw from NAFTA, the 23-year-old trade agreement with Canada and Mexico. The pact is currently being renegotiated.
Balanced Reporting. Trusted Insights. Thursday, May 26, 2022