Opportunities for Fairness in Farming Act and Inflation for Farmers
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**The Canola Council of Canada supports its government joining the dispute settlement with Mexico, initiated by the U.S., on agricultural biotechnology.
According to the Canola Council, regulatory approaches not grounded in sound science risk stifling access to innovations that farmers need to contribute to food security challenges, address climate-related production issues, and remain competitive and profitable.
Council President Jim Everson says, “It is essential that Canada's trading partners support and implement science-based regulatory systems.”
**In a letter to House and Senate Agriculture Committees, a coalition of 18 commodity groups are voicing opposition to the Opportunities for Fairness in Farming, or OFF Act.
Proponents argue this legislation would increase transparency and close perceived loopholes in the statutes enabling checkoff programs.
But, the commodity groups charge, “The bill would not create any new checks and balances to ensure compliance and fairness.”
**The Farm Credit Administration’s quarterly report on economic issues shows inflation remains elevated in certain sectors of the economy despite interest rate hikes and supply chain improvements.
While many input costs also have fallen, crop producers are likely facing tighter margins this year.
Because of rising interest rates and seasonal lending fluctuations, Farm Credit System growth was slower in the first quarter than it was for the same quarter the previous three years.
