Cotton Forecasts Higher and Mexico Tomato Dumping
From the Ag Information Network, this is your Agribusiness Update.
**The USDA’s 2024-25 forecast for global cotton production is 120.9 million bales, down slightly month-over-month but a 7% increase from the year before, and the highest total since 2017-18.
The major cotton-producing countries are mixed, as declines in India and Pakistan are offset by larger increases in China, Brazil, the U.S., and Australia.
**The Court of International Trade confirmed findings from the Department of Commerce that Mexican companies dumped tomatoes into the U.S. market at significant margins, with some as high as 273%.
Most other companies assigned a dumping margin of 17%.
Robert Guenther, executive vice president of the Florida
Tomato Exchange, says we look forward to the Department imposing antidumping duties under U.S. law at the Court-approved levels as soon as the suspension agreement terminates July 14.
**The U.S. Trade Representative’s Office announced final actions for Section 301 fees on Chinese-made vessels arriving at American ports, with significant changes from the initial proposal.
National Corn Growers Association President, Kenneth Hartman Jr. says our concern has been that any fees placed on Chinese vessels could be passed on to American farmers who rely on those ships to export corn.
Hartman believes this final action is more workable than the initial deal.
