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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)
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(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.
