Export Markets Generate Huge ROI for Agricultural Economy
WASHINGTON, DC – How important are export markets for U.S. farm products? A quick answer might include the nearly $42 billion dollars rolling into the American economy in 2018 because of access to international markets for grain. The report, commissioned by the U.S. Grains Council and the National Corn Growers Association (NCGA), highlights the importance of new market access and robust market development for the profitability of U.S. grain farmers. Specifically, researchers peg the direct value of U.S. corn, sorghum, barley, and the grain components of ethanol at almost $23 billion. In addition, the report found that the U.S. food and ag industry support up to 20 percent of all domestic economic activity which makes it of the country’s most important industries.
(SOURCE: All Ag News)