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Up-to-the-Minute News on Issues and Activities
Thursday, April 16, 2015

New Trade Promotion Authority Bill Could Jump Start Trade Negotiations 

Chairman Orrin Hatch
Chairman Hatch -- on the fast track

WASHINGTON, DC -- Trade Promotion Authority (TPA) legislation was finally introduced in Congress today with a bill from Senate Finance Committee Chairman Orrin Hatch (R-UT), Ranking Member Ron Wyden (D-OR) and House Ways & Means Committee Chairman Paul Ryan (R-WI) making an appearance following lengthy negotiations between the leaders.

 

In introducing the bill, Chairman Hatch said, "we must engage with other nations through trade...[t]he renewal of TPA will help American workers and job creators unlock new opportunities for growth...here at home."  Hatch has indicated his intention to mark-up the bill, The Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA-2015), late next week.    

Many believe TPA is necessary to allow U.S. negotiators to make progress on ongoing trade negotiations, specifically, the Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP).

 

"TPA sends a clear signal to other countries that Congress is serious about letting the President wrap up these deals," said Bob Cummings, USA Rice's chief operating officer. "It puts some pressure on negotiators from other countries who can't now hide behind our Congress as a stalling tactic."

 

TPA guarantees a solitary "Yea" or "Nay" vote on trade deals. The alternative - 535 Members of Congress tweaking any aspect of the negotiated deals - renders the deals "Dead on Arrival" and provides no incentive for negotiators to conclude their talks.

 

"We support TPA from a practical matter as it will help negotiators finish their work," continued Cummings. "But the specifics of TPP and TTIP with regard to rice remain to be seen, and it is those details that will ultimately decide how we come down on things."

 

Contact:  Michael Klein (703) 236-1458

Weekly Rice Sales, Exports Reported        

WASHINGTON, DC -- Net rice sales of 34,300 MT for 2014/2015 were down 44 percent from the previous week and 53 percent from the prior four-week average, according to today's Export Sales Highlights report.  Increases were reported for Costa Rica (14,000 MT, including 7,000 MT switched from unknown destinations), Mexico (6,700 MT), Guatemala (5,800 MT, switched from unknown destinations), Panama (5,100 MT), and Haiti (4,700 MT).  Decreases were reported for unknown destinations (12,200 MT) and Colombia (1,800 MT). 

Exports of 82,600 MT were up 37 percent from the previous week and 35 percent from the prior four-week average.
  The primary destinations were Colombia (32,200 MT), Costa Rica (12,100 MT), Haiti (11,800 MT), Guatemala (5,900 MT), and Panama (5,100 MT).


This summary is based on reports from exporters from the period April 3-9.
CME Group/Closing Rough Rice Futures   
CME Group (Prelim):  Closing Rough Rice Futures for April 16

Month
Price
Net Change
May 2015
$9.965
- $0.130
July 2015$10.210
- $0.135
September 2015
$10.465
- $0.135
November 2016
$10.690
- $0.125
January 2016$10.920
- $0.125
March 2016$10.970
- $0.125
May 2016$10.970
- $0.125

In the News 

Around Washington

Vilsack Says Pleased with Farm Bill Sign-Up, Results Likely in May New York Times

Vilsack twice extended the deadline for farmer sign-ups on the farm bill's two main new market-based programs for grain supports that replaced the old legislation's direct payments.

 

 

Around the Country

Lacassine Facility Shipping IP Rice to Mexico Delta Farm Press

Investors contributed $5,000 to develop the facility, which then drew support and funding from the Louisiana Agricultural Financial Authority, led by Commissioner Mike Strain. The facility is in its third year of operation and growing rapidly.

 

Rice Planting in LA 'A Tale of Two Regions' KPLC-TV

Rice planting in southwest Louisiana is virtually through, while planting in northeast Louisiana has come to a standstill because of wet weather. Dustin Harrell, LSU AgCenter Rice Specialist, said, "Probably right now, about 10-15 percent of the rice has been planted in north Louisiana."

 

 

Around the World

Authentic American Rice Quality Seal in Mexico Delta Farm Press

The USA Rice Federation officially unveiled the first-ever American rice origin seal for an overseas market at a trade and press breakfast event in Mexico City in February.

 

 

Tariffs and Trade

Fast-Track Bill Held Up Amid Talks on Trade Assistance Agri-Pulse

The ranking Democrat on the Senate Finance Committee, Ron Wyden of Oregon, has insisted that a Trade Adjustment Assistance (TAA) reauthorization measure be moved in tandem with the Trade Promotion Authority (TPA) bill, which would smooth the way for new trade agreements.

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