The USDA says it has allocated $300 million to 66 U.S. organizations, under the new Regional Agricultural Promotion Program, to build demand for U.S. food and farm exports in high-potential markets around the globe.
Agriculture Secretary Tom Vilsack launched the program in October 2023, authorizing $1.2 billion in Commodity Credit Corporation funding to help U.S. exporters expand their customer base beyond traditional and established markets, focusing on regions such as Africa, Latin America, the Caribbean, and South and Southeast Asia, where consumer demand and purchasing power are growing, according to a news release.
“By enabling U.S. exporters to expand their footprint in diverse and dynamic new markets, [the Regional Agricultural Promotion Program] will help make them more competitive and resilient in an increasingly volatile global trading environment,” Vilsack said in the release. “We know the potential is out there, but it takes time and money to grow new markets. USDA is pleased to be able to provide the startup capital to help tap into these opportunities because if we are serious about reversing the decline of small and mid-sized farms, and building wealth that stays in rural communities, it’s crucial that we create and sustain diverse market opportunities abroad as well as at home.”
The initial round of Regional Agricultural Promotion Program funding will help recipient organizations carry out hundreds of projects encompassing a wide variety of products and markets, the release said. These include the Cranberry Institute, which plans to conduct trade education seminars and other consumer-focused activities to target export opportunities in India, Brazil, Colombia and Southeast Asia, and the Hazelnut Marketing Board, which conduct market research and trade missions to facilitate support market development in several African countries.
