U.S. agriculture is experiencing a boom in exports as China has scooped up large quantities of U.S. farm goods like corn, meat and more. But those shipments could potentially be even more, according to testimony delivered to Congress this week.
 
The House Transportation Coast Guard and Maritime Transportation Subcommittee held a hearing on shipping issues, including many that have affected agriculture such as supply chain constraints that started in the COVID pandemic.
 
A rise in consumer demand has prompted shippers to opt to snub U.S. ag exports and instead opt to ship empty containers to Asian destinations so they can be loaded up with consumer goods and sent back to the U.S. with its expanding economy.
 
The North American Meat Institute (NAMI) told lawmakers that the shipping issues have carried a price tag of $1.5 billion in lost revenue. That is certainly a negative. But, a bigger worry for agriculture? Long-term loss of markets. If countries are unable to get products from the U.S., they will simply turn to other buyers. Once those supply chain links are established, they are hard to break.
 
Click Here to read more.