Agribusiness Update for Wednesday 10/07/15

Following the announcement of an agreement in the Trans-Pacific Partnership talks, many agriculture organizations approved of the trade deal, despite many details yet to be made public. The full text will be available shortly by President Obama's Administration and trade negotiators. Then, 60 days later, the administration can present the agreement to Congress for a vote. A statement released by the White House said the TPP will provide a near-term boost to the U.S. economy, and it will shape our economic and strategic relationships in the Asia-Pacific region.

A single male peach fruit fly was reported in California's Fresno County, raising fears of an infestation in the San Joaquin Valley. The pest was confirmed by the California Department of Food and Agriculture. A University of California entomologist says if an infestation were to occur, it is estimated that the long-term damage would range in the hundreds of millions, if not billions of dollars. California produces more than 90% of the nectarines and plums grown in the U.S. and provides approximately 60% of all the peaches. Most of those are grown in the San Joaquin Valley, just south of Fresno.

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