It’s all about making the grain, livestock, and ag products that Indiana farmers produce more valuable. That’s why Indiana’s trade representatives are racking up the frequent flyer miles to open new international markets for Indiana’s ag products.
“So, it may feel like we’re stretching further away from our roots, but really what we’re doing is bringing Indiana to the world,” says Drew Sherman, International Trade Director with the Indiana State Department of Agriculture.
Indiana exports a lot of agricultural products to Canada, Mexico, Japan and China, which have been Indiana’s top four international markets over the past several years according to the USDA. Sherman says the goal is to not only maintain those trade relationships but grow new ones with other countries.
“So, the top four markets for Indiana account for about 63% of the total commodity trade that comes out of Indiana,” according to Sherman. “So, we are looking to diversify and to identify some of those other markets that will really be great buyers of products that we grow, produce, manufacture, and process here in Indiana.”
One of those growing international markets is the United Kingdom, which was the seventh largest market for Indiana’s ag products in 2021. In May of 2022, Indiana Gov. Eric Holcomb signed a unique trade agreement with the UK.
“Indiana was the first state to sign a state-level memorandum of understanding with the United Kingdom,” says Sherman. “A few other states have tried to follow since then, but it takes some time to get agreements like this put together.”
“What’s really exciting about this memorandum of understanding with the United Kingdom is that agriculture is listed as one of the priority sectors in this agreement, so we’re able to focus on opportunities for economic cooperation and trade with a really great trading partner for Indiana and for the United States, so we see a lot of promise coming out of that agreement,” says Sherman.
He adds that he and other Indiana trade representatives are hitting the road this year to expand Indiana’s trade opportunities. For example, he is attending an international trade event in New Delhi, India called Delhi Wood with the goal of supporting and building additional trade opportunities for Indiana’s hardwood industry.
“Ninety-five percent of consumers around the world live outside of the United States and about 70% of the world’s purchasing power does not live within our borders,” according to Sherman. “When we’re looking at opportunities to grow your businesses in Indiana, it really can help by being able to find those partners and buyers outside of our state and outside of the United States.”
Sherman says that having those opportunities to sell Indiana’s ag products to the rest of the world is a win-win for Indiana’s farmers.
“When we are able to grow demand for the products that are made using ingredients grown here in Indiana, it really helps everyone out. We enjoy being able to help the entire ag value chain in Indiana and we get to see some of those benefits really help everyone along that path,” says Sherman.
Since 2017, the total number of Indiana’s ag exports to international markets have increased by nearly 16 percent.
Click BELOW to hear C.J. Miller’s news report and interview with Drew Sherman, International Trade Director with the Indiana State Department of Agriculture, as he discusses expanding international trade opportunities for Indiana’s ag products.
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