Farm Bureau applauds Ocean Shipping Reform Act
President Joe Biden signed into law the Ocean Shipping Reform Act Thursday afternoon, an act that was welcomed by the American Farm Bureau Federation.
AFBF President Zippy Duvall attended the signing ceremony at the White House and said the Biden administration worked with Farm Bureau to support passage of the bill:
“AFBF appreciates lawmakers for working together to pass the Ocean Shipping Reform Act. Record-high shipping costs and delayed access to containers have worsened supply chain issues and limited exports at a time when the world is calling on America’s farmers to meet growing demand. Some estimates suggest we’ve lost out on more than $25 billion in agricultural exports over the past six months because of ocean shipping constraints. That’s unacceptable. Limited trade has also made it more difficult to import supplies like fertilizer, which increases costs to farmers and ultimately hurts all families through higher grocery bills.
“I was pleased to team up with President Biden to urge passage and look forward to him quickly signing the Ocean Shipping Reform Act into law so farmers and ranchers can continue to meet the needs of families in America and overseas.”
AFBF policy analyst Micheal Clements explained what the new law meant for farmers and ranchers.
“The Ocean Shipping Reform Act is a bipartisan bill that would take key steps to resolving maritime supply chain obstacles that are increasing costs to our U.S. agricultural exporters and preventing our farmers from getting their products overseas. Now that it's law, it will provide a new oversight and enforcement authority through the Federal Maritime Commission, expanding the opportunities for our shippers to solve conflicts with the ocean carriers and to increase transparency and accountability among those ocean carriers.
“Record-high shipping costs and shortages of containers have created bottlenecks at our ports and worsened supply chain issues at a time of growing demand domestically and overseas. Some estimates suggest we’ve lost out on more than $25 billion in agricultural exports. Limited trade has also made it more difficult to import supplies, which ultimately costs all Americans through higher prices.”
It is a welcome relief in ever more costly times, AFBF President Duval said
“The Biden administration has been a strong ally for us in working to get this bill across the finish line,” he said. “And last week President Biden called me himself to talk about why farmers and ranchers need ocean shipping reform, and we had a great conversation. Today, I was at the White House with President Biden as he signed that bill into law. We look forward to building on my relationship with him to work towards solutions of other issues that are facing our farmers and ranchers.
“We are ready to meet the demands of American grown products here at home and abroad, but it requires a well-functioning supply chain. Limiting trade also negatively affects our farmers, it affects our ability to get much needed supplies like fertilizer, which will ultimately drive up the cost of growing food for American families. Farmers have already lost up to $25 billion of agricultural exports this year because of the lack of access to export containers and record shipping costs, and harmful surcharges.
“I was pleased to speak personally with President Biden about the urgent need for this legislation last week, and I was proud to join him today as he signed the bill,” he added. “Addressing congestion at our ports and creating greater accountability for shipping companies is a positive step toward ensuring America’s farmers and ranchers can continue feeding families at home and around the globe.”