Agribusiness Update for Friday 03/25/16

An economist with USDA says if Congress lifts the embargo on U.S. trade with Cuba, the nation could become like the Dominican Republic regarding exports. Bryce Cooke of USDA's Economic Research Service said both Cuba and the Dominican Republic are similar in geography, population size and high literacy rates. The Dominican Republic depends on the United States for 45 percent of its food, while Cuba gets only 20 percent of its food from the United States. If the embargo is lifted, he added, Cuba would most likely export horticultural products, tobacco, and perhaps sugar.

ConAgra Foods is the latest to say it will use labels disclosing the presence of genetically modified organisms in its food nationwide. Other food giants, including General Mills, Campbell Soup, Mars and Kellogg have made similar decisions regarding GMO labeling across the country. The labeling decisions are in response to the Vermont law that will require such labeling starting in July. ConAgra explained that it believes consumers should be informed as to what is in their food and that addressing labeling for Vermont, only, would be a costly affair.

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