By Jamie Martin
This week, prominent agricultural organizations, including the National Corn Growers Association, sent a plea to the U.S. International Trade Commission (ITC). They are advocating against advancing Corteva Agribusiness’s petition to impose antidumping and countervailing duties on herbicide imports from India and China, specifically targeting the herbicide 2,4-D.
The groups, representing commodities like soybeans, wheat, barley, corn, sorghum, and durum, argue that approving these duties could severely restrict access to 2,4-D. This herbicide is crucial for many farmers, and limited access could lead to shortages, affecting agricultural productivity.
The letter highlighted that Corteva is currently the sole significant U.S. supplier of 2,4-D, but cannot alone meet the market demand. Import restrictions would further strain an already challenging environment for farmers, with rising costs and declining crop values. The U.S. Department of Agriculture forecasts a significant drop in crop cash receipts for 2024, adding financial pressure to farmers already facing record-high production costs.
Farmers, described as price takers in their markets, would find themselves unable to absorb or offset these increased costs, potentially leading to cutbacks that could affect their operations and local economies negatively. The decision pending from the ITC, set for a preliminary vote on May 17, 2024, holds substantial implications for U.S. agriculture and its global competitiveness.
Photo Credit: national-corn-growers-association
Categories: National