A farmer pets the head of his cow during a cow cuddle session at Luz Farms near Monee, Illinois.Jim Vondruska/ReutersThe US port strike on the East and Gulf Coasts could threaten farm exports amid harvest season.The National Grain and Feed Association warned of supply chain disruptions and lower farmgate prices.President Joe Biden urged fair negotiations, highlighting the economic risks and worker wage concerns.The US port strike at East and Gulf Coast ports isn't just impacting bananas and consumer imports into the country — it could hurt America's farm exports too.The industrial action comes just as US farmers are harvesting their crops in a bumper season weeks ahead of the presidential election.On Friday, the National Grain and Feed Association, or NGFA, CEO Mike Seyfert warned that the strike could have devastating impact on the industry."The last thing NFGA members or the agricultural community can afford right now is a breakdown in any part of our nation's shipping network," he said.About 40% of the US' agricultural exports shipped in containers move through the East and Gulf Coast ports, according to a Friday letter from the association to the White House sent ahead of the industrial action.The association that represented 200 farm groups had warned of an impact on the supply chain that would "quickly reverberate throughout the agricultural economy, shutting down operations and potentially lowering farmgate prices."Seyfert told Politico on Friday that while some farm exports can be moved to the West Coast for shipping, there's probably not enough capacity there."You're going to see increased shipping cost," he said, adding that this would impact agribusinesses and producers.To be sure, agricultural commodities are typically shipped in bulk carriers rather than in container ships, so the strike wouldn't impact most wheat, maize and, soybeans exports, wrote Joseph Glauber, a senior research fellow at the DC-based International Food Policy Research Institute in a Monday report.However, US meat, dairy, and poultry exports could be disrupted, hitting developing countries hard, wrote Glauber.
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htan@insider.com (Huileng Tan), Business Insider
Wed, 10/02/2024 - 12:29am
Topics: you luz farms monee illinois jim vondruska/reutersthe us gulf coasts america ngfa ceo mike seyfert nfga white house politico joseph dc-based international food policy research institute mexico business insider's tim paradis united states maritime alliance international longshoremen's association business insider us east gulf coast national grain feed association president joe biden west coast glauber hitting imports farmers hurt port strike exports impact agricultural wrote warned friday dairy fair shipped countries shipping poultry supply cow meat farmgate chain profits told higher urged economy costs importers
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The US port strike at East ... bananas and consumer imports into the country — it could hurt America's farm exports too. The industrial action comes just as US farmers are harvesting their ...
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