The Waterways Council and National Grain and Feed Association are commending the USDA for releasing a significant study on inland waterways and the cost savings of investing in those. Ag Secretary Sonny Perdue wants increased spending on locks and dams and Waterways Council Senior Vice President Deb Calhoun says the study indicates that spending $6.3 billion over the next ten years to upgrade the locks and dam system would boost agricultural sales as much as $142 billion through 2045.
She says because of its efficiencies and lower costs, the inland waterway system saves between $7 billion to $9 billion annually over the cost of shipping by other modes.
Calhoun says currently the U.S. has a $5.35 per metric ton advantage over Brazil when shipping soybeans on the inland waterways. She says that points out the need to make positive investment in that system.
Calhoun adds that the study makes the case to speed up the Navigation and Ecosystem Sustainability Program that would modernize five locks on the Upper Mississippi River and two on the Illinois waterway to be able to capitalize on predicted grain shipments.
