Agricultural and Food Policy
 Agri Outlook
Radio
Number 77
Policy Part 4. Key points to consider as the Senate debates the new farm bill on
agricultural policy, the global economy, and the need for a strong safety net for the
U.S. rice and cotton sector. (1:39 minutes)
Audio/Video Script:
Dr. Bobby Coats
Extension Economist
University of Arkansas, Division of Agriculture
The lack of a global trade agreement favors competitors of U.S. rice and
cotton producers. Trade agreements that aren’t fair, reasonable, and provide
market access and orderly transition for our producers to produce for the global
market are damaging. I’m Bobby Coats Extension Economist University of
Arkansas Division of Agriculture.
I’m pro globalization and World Trade Organization (WTO) trade agreement
assuming fairness and market access for our producers. I believe the transition
to increasingly open markets and free trade should be orderly, reasonable, and
fair. The primary reason a global trade agreement does not exist is because
country after country around the world wants market access and environmental,
conservation, and an array of safety concessions, without giving meaningful
market access and concessions.
Due to their importance, rice and cotton are two of the most protected
commodities in the world. Even with a global trade agreement protection of these
commodities will change very slowly. Given the accelerated change and price
volatility that our rice and cotton producers are experiencing maintaining a
strong safety net allows for continued orderly transition to producing for the
global market.
This has been Bobby Coats Extension Economist University of Arkansas Division
of Agriculture.
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