U.S., PANAMA SET DATE FOR TRADE AGREEMENT
Published online: Oct 24, 2012
Potato Storage, Potato Harvesting, Seed Potatoes
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Yesterday, USDA announced that the United States-Panama Trade Promotion Agreement will enter into force on October 31.
This agreement will result in a phased five-year elimination of the existing 20 percent tariff on U.S. frozen potato exports. In 2011, U.S. frozen french fry exports to Panama grew by 16.5 percent in value, which totaled $6.1 million, and 15.6 percent in volume from 2010 due, primarily, to the growth of quick service restaurants (QSRs). As one of the fastest-growing economies in Latin America, Panama represents a potential $10 million market for frozen potato exports from the United States.
SOURCE: National Potato Council