USDA Awards Funding to Help Open and Expand Export Markets for U.S. Agriculture
The Department of Agriculture’s Foreign Agricultural Service has awarded fiscal year 2015 funding to help expand commercial export markets for U.S. products. Through the Market Access Program, FAS will provide $173.2 million to 62 nonprofit organizations and cooperatives to share the costs of overseas marketing and promotional activities that help build commercial export markets for U.S. agricultural products and commodities, particularly fruits, vegetables, nuts, processed products, and bulk and intermediate commodities. Under the Foreign Market Development program, FAS will allocate $26.7 million to 22 trade organizations to help create, expand and maintain long-term export markets for U.S. agricultural products. According to a USDA press release, an independent study released in 2010 found that trade promotion programs like MAP and FMD provide $35 in economic benefits for every dollar spent by government and industry on market development.