Agribusiness Update for Wednesday 05/28/14

Agribusiness Update for Wednesday 05/28/14

This is the Agribusiness Update...I'm Greg Martin...

Canada has questioned the country-of-origin labeling law - saying it is more restrictive and harmful to Canadian beef cattle and pigs imported into the U.S. than an earlier version of COOL that was in violation of World Trade Organization rules. Canada's Agriculture Minister Gerry Ritz has announced his country is ready to impose tariffs on certain U.S. ag goods once it gets approval from the WTO. The WTO is expected to announce its decision as early as this fall. If the WTO rules in favor of Canada - retaliatory tariffs could target beef, pork, cereals, baked goods and fresh fruit.

The FDA is delaying the estimated 150-million dollar food safety rule that would establish new sanitary requirements for truck drivers, shippers and trains transporting human and animal food across the country. The rule would affect more than 83,000 transportation companies. FDA says the goal of the proposed rule - which would require transporters to refrigerate the food and clean their vehicles between loads - is to ensure transportation practices don't create food safety risks. FDA has extended the comment period on this rule through July 30th.

That's today's Agribusiness Update from the Ag Information Network.

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