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 Historic FTA with Korea goes into effect today!
Today marks the implementation of the US-Korea Free Trade Agreement that was approved by Congress last October. Under the agreement, almost two-thirds of US farm products will become duty-free, including corn, soybeans for crushing, wheat, hides & skins, and wine - further expanding sales to the Korean market. More good news is that Korea's 40% tariff on US beef will also be eliminated over 15 years. USDA expects by 2016 more than 90% of pork products will also be duty-free.
According to USDA, US agricultural exports to Korea totaled nearly $5 billion in 2010, making Korea the 5th largest export market for US farm products. Korea is also the 5th largest market for Minnesota's ag products. |
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US Meat Exports
Top the Charts
Record high pork, strong gains for beef
US pork exports reached a record high last year, topping 5 billion pounds, 23% above 2010 levels. Experts say the increase was driven largely by strong demands from Asia for pork products.
China was the third largest buyer of US pork and posted the biggest increase of 328% from 2010 while South Korea saw a 106% increase in US pork imports.
The big five foreign destinations for US pork were Japan (29% market share), Mexico (20%), China (16%), Canada (105%), and South Korea (95%).
Meanwhile US beef exports also posted strong gains in 2011, totaling 2.79 billion pounds - up 21% from the previous year.
The biggest increases came from Russia (up 85%), South Korea (37%), Japan (30%), Canada (27%), and Hong Kong (21%).
Canada, Mexico, Japan, and Korea were the top four export destinations for US beef. Together, they imported 65% of total US beef exports. |
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Industry Feature:
All in the name of a better burger,Minnesota-based Unger Meat Company began processing upscale burgers under the brand name Rancher's Legacy in 2010. The firm's mission is to lead by consistently delivering premium ground beef through distributors. Key markets include the hospitality industry and restaurants, institutions, retail outlets, and food processors.
"Building personal relationships with our customers and
providing quality products is the secret to our success," says Jeff Dunn, Vice President of Sales and Marketing.
UMC recently achieved the Safe Quality Food (SQF 2000) Level 2 Certification, a coveted industry safety award. The company's state-of-the-art facility in Vadnais Heights produces safe, high quality fresh and frozen grind in an eco-friendly environment. These eco initiatives include energy efficient refrigeration, water recovery, high efficiency lighting and package design engineered to minimize environmental impact (footprint) and maximize cases per pallet to reduce transportation expense.
UMC also leads in source verified boxed beef and cut steaks under the name brand Heritage Ranch that can be traced to the ranch of origin. The relationship established directly with ranchers makes source verification possible and also eliminates "padders" that would escalate pricing. This unique concept has national implications as the company successfully distributes to many regions throughout the US.
For additional information please contact UMC, Jeff Dunn -VP Sales & Marketing, 651-366-6563. |
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Our mission is to enhance Minnesotans' quality of life by ensuring the integrity of our food supply, the health of our environment, and the strength of our agricultural economy.
Minnesota Department of Agriculture
625 Robert Street North
St. Paul, Minnesota 55155
www.mda.state.mn.us
   
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Export to India!
MDA's India Marketing Consulting event has been rescheduled for March 27-29.
On the 27th, join us for an interactive afternoon serminar to learn all about entering the India market with your food and/or agriculture products. On the 28th & 29th, you can sign up for an individual consultation with our expert on this emerging and exciting market.
All the details are on our International Events page. |
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Sign up for Food Show PLUS! at SIAL Brazil
With over 191 million people, Brazil is the 8th largest world economy. Food imports to Brazil have grown 150% between 2006 and 2011 - and during that time period, the Brazilian food and beverage industries have experienced a turnover of at least $161 billion. The Brazilian food service sector is growing at a rate of 12.4% a year - and the retail market sector at 10% per year.
You could call this a growth spurt but we think it respresents a huge opportunity for Minnesota exporters. How? By joining Food Export Midwest June 25-28 in Sao Paulo for SIAL Brazil, where you can sign up for Food Show PLUS! services to enhance your tradeshow experience.
With over 1,000 exhibitors and 65,000 trade vistors, it's a great opportunity to showcase your products. To help you do this, Food Export provides pre-show marketing research on one of your products, an in-market briefing, on-site assistance by an in-market representative, a retail tour, pre-arranged meetings with qualified buyers, and post-show lead assistance.
In addition to all of these services, you will also be provided with interpreters during the show and translation of your company materials. Wow!
For more information or to register, please see the Food Show PLUS! at SIAL Brazil website or contact MDA's International Trade Rep. Christina Connelly at christina.connelly@state.mn.us |
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Who will win the Governor's Trade Awards?
Join the Minnesota Trade office next Thursday, March 22 as Governor Mark Dayton presents the Governor's International Trade Awards. The awards, presented annually, recognize those companies who exemplify the importance of international trade to the state's economy.
The event will also feature the launch of the MSP Metropolitan Export initiative with the Brookings Institution, a strategy for expanding the export reach of small businesses in the Twin Cities area. The goal of the initiative is to double export dollar volumes in the Minneapolis-St. Paul region over the next five years.
Attendees of the event also have the opportunity to take in a morning business seminar on international export opportunities.
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