ITC Votes to Revoke OJ Anti-Dumping Order

FLORIDA CITRUS MUTUAL
P.O. Box89 • Lakeland,FL 33802
ph:(863) 682-1111   www.flcitrusmutual.com

LAKELAND, Fla. (March 14, 2012) – The U.S. International Trade Commission (ITC) Wednesday struck a blow toFlorida citrus growers by voting to revoke the anti-dumping order on certain Brazilian orange juice processors.

The ITC said removing the anti-dumping order would not materially harm the Florida citrus grower despite increased Brazilian production, declining U.S. consumption and rapidly escalating costs of production.

An anti-dumping order covering three major Brazilian orange juice processors – Cutrale Citrus Juice, Citrosuco Paulista and Louis Dreyfus – has been in place since 2006. Every five years, the United States conducts a “sunset review” to determine whether duties should remain in place on Brazilian OJ or be revoked, taking into consideration how that would impact the U.S. industry, including Florida growers.

The decision came after Florida Citrus Mutual (FCM) spent the past six months building a case against the Brazilians.

“Florida Citrus Mutual is extremely disappojnted with this decision and we will review next steps including an appeal,” said Michael W. Sparks, FCM’s executive VP/CEO. “Over the past five years Brazilian processors have continued to dump cheap product into the United States as their residual market and I cannot see any reason why they would stop, especially if the anti-dumping order goes away.”

Dumping is bad because it can drive domestic producers out of business while destabilizing world markets.U.S.firms can file an anti-dumping petition with the International Trade Commission, which investigate the matter.

If a domestic industry can prove foreign producers are selling product for less than “normal value,” including below the cost of production, then anti-dumping deposits can be imposed by the government.

FDA Says Brazil’s Orange Juice Is Safe, But Still Illegal

 

Antonio Scorza/AFP/Getty Images Oranges for sale at a market in Rio de Janeiro.

      by DAN CHARLES  February 22, 2012

If you happen to notice sometime later this year that you’re suddenly paying a lot more for orange juice, you can blame America’s food safety authorities. The U.S. Food and Drug Administration, after several weeks of deliberation, has blocked imports of frozen, concentrated orange juice from Brazil, probably for the next 18 months or so, even though the agency says the juice is perfectly safe.

The FDA’s explanation is that its hands are legally tied. Its tests show that practically all concentrated juice from Brazil currently contains traces of the fungicide carbendazim, first detected in December by Coca-Cola, maker of Minute Maid juices. The amounts are small — so small that the U.S. Environmental Protection Agency says no consumers should be concerned.

The problem is, carbendazim has not been used on oranges in the U.S. in recent years, and the legal permission to use it on that crop has lapsed. As a result, there’s not a legal “tolerance” for residues of this pesticide in orange products.

This Column Was 100% Made in America

A Hyundai ad that ran during Super Bowl coverage showed workers from the company's plant in Montgomery, Ala.

By STUART ELLIOTT  Published: February 15, 2012

BLUE-COLLAR workers in fields like manufacturing — particularly when they make products on American soil — are again becoming a favorite subject for white-collar workers on Madison Avenue.

The trend was born of the economic worries that followed the financial crisis in 2008. Recently, it is gaining steam — appropriate, since the ads often use blasts of steam to signal something is being built — with proposals in Washington to offer incentives to encourage the location or relocation of factories in the United States.

“We continue to see very heavy emotional response to anything that would leverage against the bad economy,” said Robert Passikoff, president at Brand Keys, a brand and customer-loyalty consulting company in New York.

The Dr. Oz Show – Juice Products Association Q&A: Orange Juice Standards

Do you know where your orange juice is really made?

As of this publishing, Natalie’s Orchard Island Juice Company is the ONLY Made in USA Certified Orange Juice sold in the United States.

 

Last week, news broke that the FDA is testing orange juice imports for a fungicide, carbendazim, that’s banned in the United States. Here, the Juice Products Association, the trade group representing juice companies, responds to questions from The Dr. Oz Show.

The FDA is currently testing orange juice imports after the recent discovery of the fungicide carbendazim, banned in the United States. Carbendazim is known to cause liver cancer in animal studies, can be toxic to cell division, which can harm male fertility, and can cause birth defects.

Here, the Juice Products Association responds to our questions on these events and orange juice manufacturing standards.

1. Are American juice companies required to test for carbendazim?

Companies selling foods and beverages in interstate commerce must comply with US laws and regulations. Some of our members rely on government testing while others have more extensive programs. It’s important to note that it was one of our members that discovered the substance and notified the FDA, even though, as the FDA has said, at the low levels found, there are no safety concerns with the Brazilian orange juice our members use in their products.

2. Are American juice companies required to report their test results for carbendazim to FDA?

Yes. Companies selling foods and beverages in interstate commerce must comply with US laws and regulations.

3. Are there other fungicides used in other countries that are not used here that could turn up in imported juice products? (If so, which fungicides?)

As there is no international standard, it is possible that there are others. That’s why juice producers test. Most countries outside the US use the international tolerances set by the Codex Alimentarius Commission established by World Health Organization and Food and Agricultural Organization of the United Nations. In fact, the tolerance for carbendazim in orange juice under Codex is significantly higher than the levels found in Brazilian orange juice, as is the tolerance set by the European Union, Canada and Japan. 

Apple Juice Made in America? Think Again.

Apple juice made in America? Think again.

NEW YORK (AP) — Which food revelation was more shocking this week?

Did it blow you away that low levels of a fungicide that isn’t approved in the U.S. were discovered in some orange juice sold here? Yawn. Or was it the news that Brazil, where the fungicide-laced juice originated, produces a good portion of the orange pulpy stuff we drink? Gasp!

While the former may have sent prices for orange juice for delivery in March down 5.3 percent earlier this week, the latter came as a bombshell to some “Buy American” supporters. But that’s not the only surprise lurking in government data about where the food we eat comes from.

Overall, America’s insatiable desire to chomp on overseas food has been growing. About 16.8 percent of the food that we eat is imported from other countries, according to the U.S. Department of Agriculture, up from 11.3 percent two decades ago. Here are some other facts:

— Not all juices are treated the same. About 99 percent of the grapefruit juice we drink is produced on American soil, while about a quarter of the orange juice is imported; more than 40 percent of that is from Brazil.

— About half of the fresh fruit we eat comes from elsewhere. That’s more than double the amount in 1975.

— Some 86 percent of the shrimp, salmon, tilapia and other fish and shellfish we eat comes from other countries. That’s up from about 56 percent in 1990. 

Who Owns the U.S.?

Regardless of how much closer Obama’s budget brings our economy into a balance of payments not seen since 2001, we will continue to run deficits for the next decade, and the national debt will keep growing every year that happens.

While most of the country’s $14 trillion debt is held by private banks in the U.S., the Treasury Department and the Federal Reserve Board estimate that, as of December, about $4.4 trillion of it was held by foreign governments that purchase our treasury securities much as an investor buys shares in a company and comes to own his or her little chunk of the organization.

Looking at the list of our top international creditors, a few overall characteristics show some interesting trends: Three of the top 10 spots are held by China and its constituent parts, and while two of our biggest creditors are fellow English-speaking democracies, a considerable share of our debt is held by oil exporters that tend to be decidedly less friendly in other areas of international relations.

Here we break down the top 10 foreign holders of U.S. debt, comparing each creditor’s holdings with the equivalent chunk of the United States they “own,” represented by the latest (2009) state gross domestic product data released by the U.S. Bureau of Economic Analysis. Obviously, these creditors won’t actually take states from us as payment on our debts, but it’s fun to imagine what states and national monuments they could assert a claim to.

1. Mainland China

Amount of U.S. debt: $891.6 billion

Share of total foreign debt: 20.4%

Building on the holdings of its associated territories, China is the undisputed largest holder of U.S. foreign debt in the world. Accounting for 20.4% of the total, mainland China’s $891.6 billion in U.S. treasury securities is almost equal to the combined 2009 GDP of Illinois ($630.4 billion) and Indiana ($262.6 billion) in 2009, a shade higher at a combined $893 billion. As President Obama — who is from Chicago — wrangles over his proposed budget with Congress he may be wise to remember that his home city may be at stake in the deal.

2. Japan

Amount of U.S. debt: $883.6 billion

Share of total foreign debt: 20.2%

The runner-up on the list of our most significant international creditors goes to Japan, which accounts for over a fifth of our foreign debt holdings with $883.6 billion in U.S. treasury securities. That astronomical number is just shy of the combined GDP of a significant chunk of the lower 48: Minnesota ($260.7 billion), Wisconsin ($244.4 billion), Iowa ($142.3 billion) and Missouri ($239.8 billion) produced a combined output of $887.2 billion in 2009.

3. United Kingdom

Amount of U.S. debt: $541.3 billion

Share of total foreign debt: 12.4%

At number three on the list is perhaps our closest ally on the world stage, the United Kingdom (which includes the British provinces of England, Scotland, Wales and Northern Ireland, as well as the Channel Islands and the Isle of Man). The U.K. holds $541.3 billion in U.S. foreign debt, which is 12.4% of our total external debt. That amount is equivalent to the combined GDP of two East Coast manufacturing hubs, Delaware ($60.6 billion) and New Jersey ($483 billion) — which was named, yes, after the island of Jersey in the English Channel. The two states’ combined output in 2009 came to $543.6 billion.

4. Oil Exporters

Amount of U.S. debt: $218 billion

Share of total foreign debt: 5%

Another grouped entry, the oil exporters form another international bloc with money to burn. The group includes 15 countries as diverse as the regions they represent: Ecuador, Venezuela, Indonesia, Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, Algeria, Gabon, Libya, and Nigeria. As a group they hold 5% of all American foreign debt, with a combined $218 billion of U.S. treasury securities in their own treasuries. That’s roughly equivalent to the combined 2009 GDP of Nebraska ($86.4 billion) and Kansas ($124.9 billion), which seems to be an equal trade: The two states produce a bunch of grain for export, which many of the arid oil producers tend to trade for oil.

5. Brazil

Amount of U.S. debt: $180.8 billion

Share of total foreign debt: 4.1%

Rounding out the top five is the largest economy in South America, Brazil. The country known for its beaches, Carnaval and the unbridled hedonism that goes along with both has made a big investment in the U.S., buying up $180.8 billion in American debt up to December. That’s almost equal to the $180.5 billion combined GDP of Idaho ($54 billion) and Nevada ($126.5 billion), a state that is no stranger to hedonism itself.

6. Caribbean Banking Centers

Amount of U.S. debt: $155.6 billion

Share of total foreign debt: 3.6%

You have to have cash on hand to buy up U.S. government debt, and offshore banking has given six countries the combined capital needed to make the Caribbean Banking Centers our sixth-largest foreign creditor. The Treasury Department counts the Bahamas, Bermuda, the Cayman Islands, the Netherlands Antilles, Panama and the British Virgin Islands in this designation, which as a group holds $155.6 billion in U.S. treasury securities. That’s equivalent to the GDP of landlocked Kentucky ($156.6 billion), whose residents may not actually mind if they were ever to become an extension of some Caribbean island paradise.

7. Hong Kong

Amount of U.S. debt: $138.2 billion

Share of total foreign debt: 3.2%

At No. 7 on the list of our foreign creditors is Hong Kong, a formerly British part of China that maintains a separate government and economic ties than the communist mainland. With $138.2 billion in U.S. treasury securities, the capitalist enclave could lay claim to Yellowstone Park and our nation’s capital: The combined GDP of Wyoming ($37.5 billion) and Washington D.C. ($99.1 billion) totaled $136.6 billion in 2009.

8. Canada

Amount of U.S. debt: $134.6 billion

Share of total foreign debt: 3.1%

They say that a friend in need is a friend indeed, and our neighbor to the north has proven to be a kind and generous creditor in our time of financial need. Canada holds about 3.1% of our foreign debt, or $134.6 billion. If friend were to become enemy and Canada were looking to annex some U.S. land to cover the debt though, the country would have an easy time of it. The combined GDP of Maine ($51.3 billion), New Hampshire ($59.4 billion) and Vermont ($25.4 billion) comes close to Canada’s debt holdings at $136.1 billion.

Residents of the three states in our extreme northeast corner should start practicing their French: They might become Québécois one of these days.

9. Taiwan

Amount of U.S. debt: $131.9 billion

Share of total foreign debt: 3.0%

Taiwan, an island barely 100 miles off the coast of China, is claimed by the People’s Republic of China, despite having its own government and economic relations with the outside world. Part of those economic relations includes the island’s holding of $131.9 billion of U.S. debt, roughly equivalent to the combined GDP of West Virginia ($63.3 billion) and Hawaii ($66.4 billion), which totals $129.7 billion.

Unless we get our spending in check, we risk losing some of our most visually stunning territory (West Virginia, obviously) to our friendly neighbors on the other side of the Pacific Ocean.

10. Russia

Amount of U.S. debt: $106.2 billion

Share of total foreign debt: 2.4%

Starting off the list of our major foreign creditors is Russia, which holds about 2.4% of the U.S. debt pie that sits on the international dinner table. Its $106.2 billion in treasury securities is equivalent to the 2009 GDP of our sparsely populated North: The combined output of North Dakota ($31.9 billion), South Dakota ($38.3 billion) and Montana ($36 billion) matches up nicely with the Russian holdings, at $106.2 billion.

Let’s hope Russian president Dmitry Medvedev doesn’t come to collect.

The First Stop to Landing your dream Job Leave the Country.

Going overseas to work can be a great way to jump-start your career, especially given the slow U.S. job market.

The economic rebound might feel good if you’re in the Goldman Sachs bonus pool, but for everyone else? Not so much. In fact, if you’re a fresh-from-B-school MBA, a frustrated manager, or a newly minted “consultant,” things probably look endlessly grim: half a million new jobless claims per week, nearly 10 percent unemployment, virtually no new hiring. But the truth is, there are hundreds of thriving companies, struggling to keep up with surging demand and desperate to hire someone just like you. The only thing is, they’re on the other side of the globe.

More than five million Americans are already there ― wherever “there” may be ― and more are expected to arrive as the expanding global economy continues rewarding talent over nationality. In places such as Vietnam, South Korea, and even Brazil, a little business experience and a lot of nerve can lead to a hefty compensation package and training that can give you a valuable leg up when you decide to return to the U.S. job market.

On average, the best-paid expats are in Asia, where one in four earn more than $200,000 a year. And, sure, speaking the local language is helpful, but it’s often less important than good business knowledge and experience.

So where to look? A planet-wide job hunt is overwhelming, which is why we’ve boiled it down to a few key questions to ask yourself. Check them out here Are You Expat Material? You might find that you just want to pack up and join the legions of Americans looking to make their fortune the expat way.

• Vietnam: Opportunity Is Everywhere
• Brazil: Hot Beaches, Hot Parties, and a Hot Job Market
• South Korea: Get Gold Card, Rake in Gold
• China: Jobs Abound! (But Do Your Homework)
• India: Riding the Backwards Brain Drain
• Are You Expat Material?