Baby Formula Tariffs in 2023 and Ethanol Production Margins Weaken
**Baby formula imports will be subject to tariffs again in 2023 when exemptions implemented during a nationwide shortage expire.
Reuters says the shortage began during supply chain issues brought on by COVID, and began getting worse last February when the biggest U.S. supplier recalled some products and closed down a manufacturing plant due to bacterial infections.
American health regulators relaxed import policies, and President Biden invoked the Cold War-era Defense Production Act to rebuild lagging supplies.
**USDA is investing $9.5 million to support the scale-up of sustainable bioproduct manufacturing in the U.S.
Three projects are getting funded through the National Institute of Food and Agriculture’s Bioproduct Pilot Program to spur economic activity in the nation’s rural areas while lowering commercialization risks associated with bringing biobased products to market.
The Pilot Program’s exploration into bioproducts accelerates USDA’s efforts to develop circular bio-economies, where agricultural resources are harvested, consumed, and regenerated in a sustainable manner.
**America’s ethanol industry saw its production margins get weaker late in 2022, and MarketWatch says the outlook will depend on multiple factors.
Margins have recently dropped below the same time last year.
Iowa State University’s Center for Agricultural and Rural Development says the average return over operating costs at a typical dry-mill ethanol plant was 34.64 cents per gallon.
That’s over one dollar lower than a year earlier.