In Russia, U.S. Beef is what’s for dinner

Posted on December 27, 2012

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A new law just passed Congress establishing permanent normal trade relations (PNTR) with Russia, giving cattle producers in the U.S. a new opportunity to increase beef exports.

“Ranchers can now sell more than 60,000 metric tons of American beef to Russia every year,” said Watty Taylor, former president of the Montana Stockgrowers Association. “But above that, we can export all the high quality beef we want at a reduced 15 percent tariff. We will have a substantially larger market than the 60,000 metric tons.”

Russia, which boasts the ninth-largest economy in the world, joined the World Trade Organization (WTO) in August, but Americans couldn’t capitalize on the situation until the U.S. reached out to establish PNTR status.

Sen. Max Baucus, Montana Democrat, sponsored the bill, which passed the House this month and now awaits President Obama’s signature.

Last year Montana dealt $1.8 billion in goods to Russia.

Now, that number will skyrocket–Mr. Baucus predicted U.S. exports to Russia will double in five years.

This comes as welcome news for cattle ranchers across the nation.

Information from Farm & Ranch Guide.

 

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