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PRESIDENT BUSH GRANTS FIRST EXPORT ENHANCEMENT BONUS ON U.S. PORK; U.S. ECONOMY TO RECEIVE AT LEAST $125 MILLION BOOST FROM SALE

PRESIDENT BUSH GRANTS FIRST EXPORT ENHANCEMENT BONUS ON U.S. PORK;
 U.S. ECONOMY TO RECEIVE AT LEAST $125 MILLION BOOST FROM SALE
 DES MOINES, Iowa, Aug. 2 /PRNewswire/ -- In response to a request from the National Pork Producers Council (NPPC), President Bush has directed the secretary of agriculture to offer the first Export Enhancement Program (EEP) on U.S. pork.
 The U.S. Department of Agriculture will provide EEP credit to the former Soviet Union for purchases of 30,000 metric tonnes of U.S. pork effective Aug. 3. Bush made the announcement to NPPC producer leaders this afternoon (Aug. 2) at a meeting in suburban Chicago.
 "The EEP announcement is 'triple crown' victory," said NPPC President Tim Rose, a pork producer from Lyons, Kansas. "It's good for U.S. pork producers, good for the American economy and it's good for the people of the former Soviet Union."
 The pork sale will have a total impact of about $125 million on the U.S. economy according to University of Missouri agricultural economist Glenn Grimes. It will:
 -- Expend 30,639 eight-hour days of U.S. labor, not even counting the transportation
 -- Consume 3.7 million bushels of corn
 -- Use 600,000 bushels of soybeans
 -- Raise live-hog prices by an estimated $1-$1.25 per hundredweight (as much as $3.13 per hog).
 NPPC and the U.S. Meat Export Federation submitted an EEP proposal to the U.S. Department of Agriculture on Nov. 13, 1991, after NPPC received a request for pork from the official Soviet buying agency, Prodintorg. In addition, NPPC led ongoing efforts to present the case for use of an EEP on pork through meetings with administration officials, Russian leaders and many members of Congress. Until Bush's announcement, the United States had never granted an EEP on U.S. pork or beef.
 "This sale would not be possible without the help of many friends," Rose said. "We are especially grateful for the support of President Bush, Secretary Madigan, and numerous key members of Congress."
 Along with its immediate benefits to the United States, the EEP announcement sets a precedent for further U.S. exports of value-added commodities. These agricultural products, including pork, require processing, packaging and labor in the United States before shipment, which boosts the U.S. economy.
 "The pork EEP decision is a signal to the world that the United States is not going to take a back seat on exports of value-added agricultural products, such as pork," Rose said. "U.S. pork producers are the lowest cost producers of pork in the world, yet subsidized competition from the European Community and others has stymied U.S. exports. President Bush's groundbreaking EEP announcement not only launches the U.S. pork industry into the former Soviet Union. It sets the precedent for our moving into more markets around the world and sharpens our competitiveness against subsidized exports from other countries," Rose said.
 -0- 8/2/92 R
 /CONTACT: Charles Harness, 515-223-2600, or Karen Coble, 202-554-3600, both for the National Pork Producers Council/ CO: National Pork Producers Council ST: Iowa IN: SU:


CK -- NYSU003 -- 5942 08/03/92 07:15 EDT
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Date:Aug 3, 1992
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