For the Week Ending April 9, 2021
April 9, 2021
PHILIPPINES GOVERNMENT ANNOUNCES DECISION TO IMPORT MORE PORK
On Wednesday, the Philippine government announced it will provide more market access for pork imports. Beginning the same day, tariffs for imported pork under the increased minimum access volume (MAV) of 404,210 metric tons (MT) would be reduced from 30 percent to five percent for the next three months, and then 10 percent thereafter. Tariffs for imported pork above the MAV would be reduced from 40 percent to 15 percent for the next three months, and then increase to 20 percent thereafter. The reductions are in effect for one year. “Since 2019, the Philippines has been battling African swine fever (ASF), and as a result, domestic production has declined, supplies have tightened, and pork prices have spiked,” said NPPC President Jen Sorenson, communications director for Iowa Select Farms in West Des Moines, Iowa. “While we are saddened by the spread of ASF in the Philippines, we appreciate the opportunity to send more high-quality U.S. pork to ease the shortage and the spike in prices.” Read the full NPPC press release here.
USDA RESUMES CFAP SIGNUPS
Application signups for USDA’s Coronavirus Food Assistance Program (CFAP) funding resumed Monday following a more than three-month lapse. The initial signup ended on Dec. 11, but USDA has re-opened the application process for at least 60 days. As previously announced, additional CFAP 1 payments for swine producers and contract growers remain on hold and are likely to require modification to the regulation; the agency will dedicate at least $6 billion to provide assistance for, among others, euthanized livestock and poultry and improving the resilience of the food supply chain; and providing $20 million for the Animal and Plant Health Inspection Service to improve and maintain animal disease prevention and response capacity, including the National Animal Health Laboratory Network. For further details, visit here.
NPPC SUPPORTS PERMANENTLY REPEALING ESTATE TAX
As a member of the Family Business Estate Tax Coalition (FBETC), NPPC recently joined numerous trade groups in sending a letter of support for legislation permanently repealing the estate tax. “The FBETC supported the temporary estate tax relief in the Tax Cuts and Jobs Act, which doubled the exemption to approximately $11.7 million for tax year 2021 and indexed future increases for inflation through 2025. These changes represent significant relief to family-owned businesses from the estate tax. However, without further congressional action, the temporary increase in the exemption amount will expire at the end of 2025, increasing uncertainty and planning costs,” the letter wrote. While the coalition supports making the estate tax provisions permanent, it believes repeal is the best solution. The Death Tax Repeal Act was recently introduced by Sen. John Thune (R-S.D.) and companion legislation in the House by Reps. Jason Smith (R-Mo.) and Sanford Bishop (D-Ga.). A copy of the letter is available here.
NPPC HOSTING VIRTUAL FLY-IN NEXT WEEK
NPPC is hosting its spring Legislative Action Conference from April 14-16. The virtual fly-in draws pork producers from around the country to meet with Congress and discuss various issues, including expanding market access to Vietnam, visa reform to address the livestock agriculture labor shortage and foreign animal disease prevention efforts.