An expansion of the Port of Veracruz in Mexico is currently underway that will allow more United States agricultural exports into this region. One of the new companies that will be selling grain when the first phase is complete in 2019 is Gramosa. Commercial head Edmundo Miranda thinks U.S. farmers will be benefactors.
In fact, he thinks South Dakota farmers will also have an opportunity to sell more product in the area.
Currently bulk ag products from the U.S. make up 80-percent of the volume at the Port of Veracruz, but that will rise to 90-percent after the port expansion. Miranda says soybean volume will rise above the current 500,000 metric tons per year.
He says the ability to accept Panamax ships will also help South America, but the U.S. still has an advantage through NAFTA of zero duties and tariffs.
