|
|
|
USGC increases farmers' incomesU.S. Grains Council members heard at the 48th Annual Board of Delegates' Meeting in Anchorage, Alaska, the approximate financial value of the Council to U.S. farmers. Rick Fruth, USGC treasurer, said in realizing that such a review conducted internally could present an upward bias, the Council contracted Informa Economics LLC to construct an estimation procedure for the study, in order to eliminate the potential bias and reduce the margin of error on the review. This is the second Council performance review conducted by Informa Economics. "Our goal in conducting this review was to be as accurate as possible and alleviate any concerns that a bias exists," said Fruth. "We wanted to give our producer members a clear picture as to how their state checkoff dollars apportioned to the Council have a significant return. Producers are fortunate that their checkoffs are investing in the Council and increasing demand for U.S. feed grains, which means a greater bottom line annually." The 2008 Informa Economics study concluded that the impact of the Council's market development efforts on the U.S. feed grains industry is worth $658 million to American farmers, up from $591.7 million in 2007. The analysis showed that the total return on investment in market development is $32.87 annually for each dollar invested. U.S. Grains Council members provide only a minority of the investment; however, 100 percent of the returns accrue to producers. "It is clear that the organization creates an immense value for U.S. agriculture," said Fruth. The U.S. Grains Council is a private, non-profit partnership of farmers and agribusinesses committed to building and expanding international markets for U.S. barley, corn, grain sorghum and their products. The Council is headquartered in Washington, D.C., and has nine international offices that oversee programs in more than 50 countries. Financial support from our private industry members, including state checkoffs, agribusinesses, state entities and others, triggers federal matching funds from the USDA resulting in a combined program value of more than $26 million. 8/11/08 Date: 8/5/08 Advertisement
Copyright/Privacy
Copyright 1995-2009. High Plains Publishers, Inc. All rights reserved. Any republishing of these pages, including electronic reproduction of the editorial archives or classified advertising, is strictly prohibited. If you have questions or comments you can reach us at High Plains Journal 1500 E. Wyatt Earp Blvd., P.O. Box 760, Dodge City, KS 67801 or call 1-800-452-7171. Email: webmaster@hpj.com |
Market Snapshot Inside Futures |
