Posted 11/29/2023, 4:40:00 PM
USDA Unveils $300 Million Program to Help Agricultural Exporters Access New Overseas Markets
- USDA opening $300 million in funding to help US agricultural exporters break into new markets outside top trade partners like China and EU
- Part of new $1.2 billion, 5-year Regional Agricultural Promotion Program (RAPP)
- Goal is to help exporters diversify and tap into growing middle class demand in regions like Asia, Latin America, Africa
- Initial focus on Africa, Latin America/Caribbean, and South/Southeast Asia
- Comes as US ag exports hit record $213 billion in 2022, with heavy reliance on China, Canada, Mexico, Japan