February 1, 2023
WASHINGTON, D.C. – Earlier today, the Corn Refiners Association submitted a statement for the record to the Senate Committee on Agriculture, Nutrition, & Forestry’s hearing on the trade and horticulture Farm Bill titles.
With the agricultural supply chain contributing over $7.4 trillion to the U.S. economy annually, the importance of the industries involved cannot be overstated. These industries directly support 21.5 million jobs, or more than 14% of U.S. employment, and are responsible for roughly one-fifth of the country’s economic activity. With 95% of the world’s consumers overseas, exports are a vital part of that activity and critical to the overall health of the U.S. economy.
“U.S. agriculture-based exports support more than one million U.S. jobs, including 750,000 in the nonfarm sector – such as manufacturing – and every dollar of agricultural exports stimulates another $1.27 in business activity,” said CRA President and CEO John Bode. “In fact, U.S. agriculture has achieved an annual trade surplus going back decades but the USDA has projected a $9 billion agricultural trade deficit in fiscal year 2023. Congress must encourage the Biden Administration to increase our trade ties with allies in order to ensure a level-playing field for U.S. farmers, ranchers, and consumers.”
In the statement, CRA also reinforced their gratitude for the Senate’s confirmation of Doug McKalip as USTR Chief Agricultural Negotiator and Alexis Taylor as USDA Under Secretary of Trade and Foreign Agricultural Affairs, and for both officials’ leadership on USMCA compliance and other trade matters.
###
The Corn Refiners Association (CRA) is the national trade association representing the corn refining industry of the United States. CRA and its predecessors have served this important segment of American agribusiness since 1913. Corn refiners manufacture sweeteners, starch, advanced bioproducts, corn oil, and feed products from corn components such as starch, oil, protein, and fiber.