Agribusiness Update for Thursday 07/03/14

Organic processed products certified in the U.S. or Korea can now be labeled as organic in either country - as of Wednesday. U.S. Trade Representative Michael Froman says America’s organic farmers and businesses have a reason to celebrate because this deal serves as another foundation for future organic trade arrangements between the U.S. and other partners. Without this arrangement - organic farmers and businesses wanting to sell organic processed products in either country would have to receive separate certifications to meet each country’s organic standards - which means two sets of fees, inspections, paperwork and delays to export.

The American Farm Bureau Federation has released the results of its informal summer picnic survey. More than 80 Farm Bureau members in 25 states checked retail prices for summer picnic foods at their local grocery stores - and from this - AFBF concludes a picnic including hot dogs, cheeseburgers, pork spare ribs, potato salad, baked beans, lemonade and chocolate milk for 10 people will cost 58-dollars and 72-cents. This is a five-percent increase compared to last year.

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