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LANDMARK ANNOUNCEMENT EARMARKS SALE OF 45,500 METRIC TONS OF PORK; EQUALS NEARLY HALF OF ALL '91 U.S. PORK EXPORTS

 LANDMARK ANNOUNCEMENT EARMARKS SALE OF 45,500 METRIC TONS OF PORK;
 EQUALS NEARLY HALF OF ALL '91 U.S. PORK EXPORTS
 DES MOINES, Iowa, Oct. 9 /PRNewswire/ -- USDA's announcement to provide GSM credits and food aid to the former Soviet Union is like jet fuel to National Pork Producers Council (NPPC) efforts to expand exports of U.S. pork. USDA agreed today to provide $30 million in GSM-102 credits and $20 million in food aid for purchases of U.S. pork through programs such as PL-480. The announcement marks the first time that the United States has extended GSM credits for pork and the first time in 21 years that pork is included in a PL-480 package.
 The $30 million in GSM credits should allow for purchases of 28,000 metric tons of U.S. pork while the $20 million in food aid would likely utilize 15,500 metric tons of pork sides and quarters. The GSM credits will assist Russians in using the Export Enhancement Program (EEP) for purchases of 30,000 tons of pork announced by President Bush on August 2.
 "This allocation of GSM credits goes hand in hand with August EEP announcement," said NPPC President Tim Rose, a pork producer from Lyons, Kansas. "We fully expect the remaining EEP funds available for 7,000 metric tons of pork to be used through commercial transactions. That means U.S. pork producers can look forward to a total sale of 45,500 metric tons of pork, which is nearly half of the amount of our total pork exports in 1991."
 The United States exported 93,753 metric tons of pork last year, according to USDA statistics.
 "This is a landmark announcement that will help catapult the United States further into the export market for value-added products, such as pork," Rose said. "This is great news for pork producers, the pork industry and the U.S. economy. We appreciate the efforts of the Bush Administration as well as our many friends in Congress who have provided this opportunity to the U.S. pork industry."
 Based on calculations from University of Missouri agricultural economist Glenn Grimes, the total sale of 45,500 metric tons of pork would generate $187 million in U.S. economic activity. It would also:
 -- Consume 5.55 million bushels of corn
 -- Use 900,000 bushels of soybeans
 -- Expend 45,958 8-hour days of U.S. labor, excluding transportation
 -- Anticipated to raise live hog prices by as much as $3 for each market hog sold
 -- 45,500 metric tons of pork - 99,180,000 pounds of pork
 -- 45,500 metric tons of pork - 580,500 head of live hogs
 The USDA announcement will also benefit U.S. pork industry's efforts to forge new markets with the former Soviet Republics. On Oct. 21 and 22, the NPPC and U.S. Meat Export Federation are conducting a seminar in Moscow for U.S. meat packers to showcase the versatility, quality and availability of U.S. pork products.
 Note: Under the GSM-102 program, USDA provides a guarantee to third-party financing of purchases of the approved commodity. The EEP reduces the price of U.S. pork against world market prices and can be used in conjunction with GSM credits or with private financing.
 -0- 10/9/92
 /CONTACT: Charles Harness, 515-223-2600, or Karen Coble, 202-554-3600, both of National Pork Producers Council/ CO: National Pork Producers Council ST: Iowa IN: FOD SU:


TM -- NY083 -- 8588 10/09/92 19:19 EDT
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Publication:PR Newswire
Date:Oct 9, 1992
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