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Preparing for an increased flow of U.S. rice
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PANAMA CITY, PANAMA -- USA Rice participated in USDA Under Secretary Michael Scuse's Agricultural Trade Mission to the Dominican Republic and Panama from May 31 to June 5. Nearly 20 U.S. agribusinesses/organizations and six state agriculture departments participated in order to expand export opportunities for U.S. food and agricultural products in the region.
"Since the United States implemented trade agreements with the Dominican Republic and Panama, trade has flourished," Scuse said. "U.S. market share in this region averages more than 40 percent, the highest outside of Canada and Mexico."
USA Rice met with almost a dozen companies that either currently import U.S. rice or are interested in doing so soon. Both countries have tariff rate quotes (TRQs) which limit the amount of U.S. rice that can enter duty free. Those quotas will increase each year for the next ten years, when they are ultimately eliminated. Last year, both Panama and the Dominican Republic imported U.S. rice above and beyond the TRQ levels, indicating great interest in U.S. rice.
"A strong preference for American goods and a quality image of U.S. rice are prevalent in these two countries, indicating strong potential growth markets particularly once rice is duty free," said Brian King, chairman of USA Rice's Western Hemisphere Promotion Subcommittee. "In the meantime, USA Rice continues trade servicing efforts in Central America to develop and strengthen relationships with rice importers and retailers."
Contact: Sarah Moran (703) 236-1457
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