CORN REFINERS APPLAUD HOUSE VOTE ON PERU TRADE DEAL

FOR IMMEDIATE RELEASE
November 8, 2007

CONTACT: Audrae Erickson
(202) 331-1634

WASHINGTON, DC – The Corn Refiners Association (CRA) today hailed House passage of the United States-Peru Trade Promotion Agreement by a vote of 285-132.

“The agreement with Peru will increase exports of value-added, refined corn products,” said Audrae Erickson, CRA President.

“We applaud the leadership roles of Speaker Pelosi, Chairman Rangel, Ranking Member McCrery, U.S. Trade Representative Schwab, and Representatives Levin and Herger in achieving bipartisan support for this important agreement.  Its benefits to our industry’s workers and to the U.S. economy are clear,” Erickson continued.

Tariffs on corn gluten feed and meal will be reduced to zero when the United States-Peru Trade Promotion Agreement becomes effective.  Duties on other corn products, including corn oil, corn sweeteners and corn starch will be phased out over the life of the agreement.  U.S. exports of refined corn products to Peru have averaged $830,000 over the past five years, but are expected to increase significantly under the deal.

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The Corn Refiners Association (CRA) is the national trade association representing the corn refining (wet milling) industry of the United States. CRA and its predecessors have served this important segment of American agribusiness since 1913. Corn refiners manufacture sweeteners, ethanol, starch, bioproducts, corn oil, and feed products from corn components such as starch, oil, protein, and fiber.