In 2010 the asian market rose to 36 of colorados

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Unformatted text preview: ado Business Economic Outlook International Trade continued from page 105 The Asian market continues to expand for Colorado beef exports. In 2010, the Asian market rose to 36% of Colorado’s total beef exports, up from 22.5% in 2008. In 2011 (through August), the Asian market continued to represent 35% of Colorado’s beef exports, with growth of more than 24% in 2011 versus 2010. 2012 Forecast Colorado’s agricultural export forecast currently indicates that 2012 exports will equal the 2011 level, representing two years of the largest agricultural exports for the state. While USDA forecasts indicate limited U.S. (and Colorado) export increases, Colorado’s expanding dairy industry, and the potential for greater market access for key Asian markets, could result in growth, particularly for beef products. The Korean Free Trade Agreement will begin a 15-year process to reduce import duties on Colorado and U.S. beef. Over time, the annual reduction of duties by 2.7% per year should begin to increase Colorado (and U.S.) beef exports to the...
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