The American Soybean Association and the National Oilseed Processors Association have released a report highlighting the benefits of the Trans-Pacific Partnership for soybean producers.

Related: Report says TPP will have positive impact on U.S. economy

The American Soybean Association and the National Oilseed Processors Association have released a report highlighting the benefits of the Trans-Pacific Partnership for soybean producers. (Photo: Stewart Sutton/Thinkstock)

“The TPP has huge potential benefits for soybean farmers,” said ASA President and Greenwood, Del., farmer Richard Wilkins. “First, we achieve better market access for soybeans and soy products in 11 partner nations. More impactfully, though, we will increase sales of soybean meal for animal feed as a result of a dramatic increase in the sale of poultry, pork, beef, dairy and eggs to TPP markets. There is too much promise in the TPP for us to give up.”

Related: AFBF releases economic analysis of TPP

Prospects for passage of TPP are dim, with both presidential candidates opposed, and a crowded lame duck congressional calendar. ASA and NOPA aren’t giving up, however.

Related: TPP passage this year looks bleak

“NOPA strongly supports the Trans-Pacific Partnership because the Asia-Pacific region—comprising almost 40% of global GDP—is where the future growth markets will be for U.S. soybean farmers, processors and exporters, as well as domestic meat and poultry producers, which are our industry’s largest customers.” said Tom Hammer, NOPA President. “Unfortunately, the benefits of a TPP that has the potential to become the largest U.S. regional trade agreement in history cannot be realized if it is not approved by the United States Congress.”

Related: Attempting to understand TPP

Source: ASA