The partnership does make American food exports more attractive to new Asian markets and could increase food exports by more than $5 billion. The deal also provides major benefits to the dairy companies, following a report that the TPP would create growth for the industry.
The USDA has announced that it is willing to purchase $20 million of cheddar cheese to reduce a private cheese surplus that has hit record levels. The USDA is expecting dairy prices to increase throughout the year. The new deal provides a boost for the industry that has seen a 35 percent drop in revenue over the last two years.
The dairy industry's growth is heavily reliant on the TPP, which could create an additional $150 million to $300 million in annual dairy exports. The partnership includes 12 nations that represent 40 percent of the world's GDP.
Companies that could benefit if the TPP holds up include WhiteWave Foods Co WWAV and Dean Foods Co DF.
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