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To Help Deal with Major Uncertainties, Agriculture in the U.S. Still Needs 'Safety Nets'


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(69 seconds)


-- How Will You Use This Story? --


(OPEN):
A STRONG "FARM BILL" AND "SAFETY NET" IS CRITICAL TO THE SUCCESS OF FARMING IN AMERICA.  THAT'S ACCORDING TO TERRY BARR--A NATIONALLY RECOGNIZED AGRICULTURAL-ECONOMIST, WITH "CO-BANK"...

(BARR):
"
THE BIG CHALLENGE NOW IS THE RANGE OF UNCERTAINTIES THAT AGRICULTURE'S GONNA [SIC] HAVE TO DEAL WITH.  SOME OF THEM ARE MARKET-RELATED, OBVIOUSLY--WITH 'MOTHER NATURE' AND CHANGE IN TECHNOLOGY.  BUT ALSO, THERE'S THIS TREMENDOUS AMOUNT OF UNCERTAINLY WITH REGARD TO WHERE WE'RE GOING WITH U-S POLICY-ACTIONS--WITH THE 'FARM BILL', WITH TRADE-POLICY--AND OF COURSE, THE MONETARY POLICY.  THE CENTRAL-BANKS ARE BEGINNING TO RAISE INTEREST-RATES--AND SO, THE INTEREST-RATE REGIME IS SHIFTING.  SO, I THINK WE FIND AGRICULTURE IN A VERY GOOD POSITION, TO KIND OF BEGIN TO WEATHER THE TRANSITION.  BUT, I THINK IT'S IMPORTANT TO KEEP SOME KEY INGREDIENTS--IN TERMS OF 'SAFETY NETS' FOR AG--DURING THIS TRANSITION-PERIOD.  PARTICULARLY FOR YOUNG AND BEGINNING FARMERS WHO WANT TO GET INTO AGRICULTURE, THE MORE THESE 'SAFETY NETS' ARE ERODED, THE MORE DIFFICULT IT'S GONNA [SIC] BE FOR THEM TO HAVE THE KIND OF WORKING-CAPITAL BASE TO MATCH THE RISK THAT IS INHERENT IN AGRICULTURE."

(CLOSE):
LEARN MORE AT "SUGAR-ALLIANCE"-DOT-ORG.  FOR THE "INTERNATIONAL SWEETENER SYMPOSIUM" IN SAN DIEGO, I'M ERIC JON MAGNUSON.

For more audio from many of those participating in the 34th-annual International Sweetener Symposium, click here.



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