IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
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Inception date: 24 Oct 2012 | Removal date: open ended

Trade finance

On 24 October 2012, the Department of Agriculture approved funding to support an export operation carried out by Archer-Daniels-Midland Company. The total amount granted was USD 16 million. The operation was located in United States of America. The support was granted through the Export Guarantee Program programme.

The Export Credit Guarantee Program (GSM-102) provides credit guarantees to encourage financing of commercial exports of U.S. agricultural products. By reducing financial risk to lenders, credit guarantees encourage exports to buyers in countries, mainly developing countries that have sufficient financial strength to have foreign exchange available for scheduled payments. The program guarantees credit extended by the private banking sector in the U.S. (or, less commonly, by the U.S. exporter) to approved foreign banks using dollar-denominated, irrevocable letters of credit for purchases of U.S. food and agricultural products by foreign buyers. USDA Foreign Agricultural Service (FAS) administers the program on behalf of the Commodity Credit Corporation (CCC), which issues the credit guarantees.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

231 Grain mill products
1101 Wheat or meslin flour.
110100 Wheat or meslin flour.
232 Starches & starch products; sugars & sugar syrups n.e.c.
1108 Starches; inulin.
110811 Wheat starch
110812 Maize (corn) starch
1702 Other sugars, including chemically pure lactose, maltose, glucose and fructose, in solid form; sugar syrups not containing added flavouring or colouring matter; artificial honey, whether or not mixed with natural honey; caramel.
170260 Other fructose and fructose syrup, containing in the dry state more than 50 % by weight of fructose, excluding invert sugar
170290 Other, including invert sugar and other sugar and sugar syrup blends containing in the dry state 50 % by weight of fructose
241 Ethyl alcohol; spirits, liqueurs & spirits
2207 Undenatured ethyl alcohol of an alcoholic strength by volume of 80 % vol. or higher; ethyl alcohol and other spirits, denatured, of any strength.
220710 Undenatured ethyl alcohol of an alcoholic strength by volume of 80 % vol. or higher
341 Basic organic chemicals
2207 Undenatured ethyl alcohol of an alcoholic strength by volume of 80 % vol. or higher; ethyl alcohol and other spirits, denatured, of any strength.
220720 Ethyl alcohol and other spirits, denatured, of any strength
2930 Organosulphur compounds.
293090 Other

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