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Falling Dollar Good News For Ag Exports / NAFTA

August 30,2017-

Screen Shot 2017-08-30 at 5.40.58 PMFalling Dollar Good News For Ag Exports

Local farmers are not complaining that the declining value of the US dollar vs other currencies.The US Dollar Index has dropped to 92 this week compared to 102 a year ago, making our products some 10% cheaper for foreign buyers using their currency. That’s a boost for our ag exports.

Farmers Worry About NAFTA

Speaking of  farm exports President Trump recently indicated he may throw out out the NAFTA trade deal but California and national farm groups says they oppose any wholesale dumping of the pact. Trump tweet this in recent days.”We are in the NAFTA (worst trade deal ever made) renegotiation process with Mexico & Canada.Both being very difficult, may have to terminate?”

When talks resume next month about renegotiating the North American Free Trade Agreement, farmers and ranchers will continue to press for policies that retain gains in agricultural trade among the U.S., Canada and Mexico. The California Farm Bureau says NAFTA has, on balance, been positive for California agriculture, although Mexican competition has hurt some crops. Canada is the No. 2 market for California farm exports, and Mexico ranks fifth.

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