KenH
Well-Known Member
"America’s farm sector has been devastated by ongoing trade wars with countries such as China, low commodity prices, foreign competition for markets, higher input costs, weather and other factors.
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Another ongoing issue has been President Donald Trump’s trade war with China. It’s been reported that the Chinese have not bought American produced soybeans this year and have been pouring money into countries such as Brazil and Argentina to help establish soybean farms in those countries.
Argentina’s economy had been in a freefall, but the Trump administration recently authorized a $20 billion currency swap with the country replacing pesos with U.S. dollars which has helped to stabilize the country’s economy. Haynie said farmers are getting hit “from both sides” as the U.S. stabilizes the economy of a foreign government that is rapidly eating up shares of the international soybean market – replacing American farmers.
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Another problem for some row crop farmers is the end of the USAID (U.S. Agency for International Development) program, Haynie said. The program, purchased billions in U.S. farm goods and other products and delivered them to developing nations and disaster areas, was ended by the Trump administration. When crops such as rice are milled, some of what is produced isn’t ascetically pleasing for customers but there’s nothing wrong with the rice. USAID would buy this rice and then deliver it to food insecure people around the world.
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Wells said the agriculture economy has been in turmoil for several years. He said if something doesn’t change, as many as 30% of all farms in Arkansas could be shuttered by next spring.
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According to an Oct. 6 report from the Farm Bureau, the U.S. has lost more than 140,000 farms from 2017 to 2022, and an additional 20,000 in the previous two years."
- rest of article at 'Farmaggedon': Government shutdown deepens agriculture sector disaster - Talk Business & Politics
...
Another ongoing issue has been President Donald Trump’s trade war with China. It’s been reported that the Chinese have not bought American produced soybeans this year and have been pouring money into countries such as Brazil and Argentina to help establish soybean farms in those countries.
Argentina’s economy had been in a freefall, but the Trump administration recently authorized a $20 billion currency swap with the country replacing pesos with U.S. dollars which has helped to stabilize the country’s economy. Haynie said farmers are getting hit “from both sides” as the U.S. stabilizes the economy of a foreign government that is rapidly eating up shares of the international soybean market – replacing American farmers.
...
Another problem for some row crop farmers is the end of the USAID (U.S. Agency for International Development) program, Haynie said. The program, purchased billions in U.S. farm goods and other products and delivered them to developing nations and disaster areas, was ended by the Trump administration. When crops such as rice are milled, some of what is produced isn’t ascetically pleasing for customers but there’s nothing wrong with the rice. USAID would buy this rice and then deliver it to food insecure people around the world.
...
Wells said the agriculture economy has been in turmoil for several years. He said if something doesn’t change, as many as 30% of all farms in Arkansas could be shuttered by next spring.
...
According to an Oct. 6 report from the Farm Bureau, the U.S. has lost more than 140,000 farms from 2017 to 2022, and an additional 20,000 in the previous two years."
- rest of article at 'Farmaggedon': Government shutdown deepens agriculture sector disaster - Talk Business & Politics