Ag exporters applaud USDA trade investment
Agriculture Secretary Tom Vilsack announced Tuesday that USDA is investing $2.3 billion to help boost international trade and food aid. The funds will be allocated through the USDA Commodity Credit Corporation. According to Vilsack, USDA took this action in response to a bipartisan request from the Senate Agriculture Committee. He says the CCC continues to address American producers' needs during a challenging time that includes ongoing conflicts and climate change.
“The Commodity Credit Corporation and USDA’s market development and aid programs are critically important at this time, and with this additional support we can strengthen U.S agriculture’s presence in existing markets, open up new market opportunities, and build on our relationships and connections to ensure that high-quality American agriculture and food products reach where they are needed in the world.”
Approximately $1.3 billion of the announced funds will be used to create a new Regional Agriculture Promotion Program. That initiative will work to help ag groups market their commodities overseas. It will supplement funds provided by the Market Access Program and Foreign Market Development Program. USDA says that will support specialty crop industries and diversify export markets.
October 24, 2023