Home Agriculture USDA announces market development program investments for Fiscal Year 2024

USDA announces market development program investments for Fiscal Year 2024

by Business News Report

The U.S. Department of Agriculture’s Foreign Agricultural Service (FAS) is awarding more than $203 million to nearly 70 agricultural organisations to help expand export markets for U.S. food and agricultural products via the Market Access Program (MAP) and Foreign Market Development (FMD) program. “Over the years we have seen the tremendous impact both MAP and FMD have on expanding U.S. exports to markets across the globe,” said FAS Administrator Daniel B. Whitley. “For each $1 invested in export market development, U.S. agricultural exports have increased by more than $24. These programs provide a significant boost to the U.S. agricultural industry, which in turn helps strengthen the economy not just in rural communities, but across the entire United States.” Through MAP, FAS will provide $174.3 million for fiscal year 2024 to 68 nonprofit organisations and cooperatives. These organisations use the funds on consumer promotion, including brand promotion for small companies and cooperatives, and the funding is used extensively by organisations promoting fruits, vegetables, nuts, processed products and bulk and intermediate commodities. The average MAP participant provides more than $2.50 in contributions for every $1 in federal funding it receives through the program.

Under the FMD program, FAS will allocate $27 million for fiscal year 2024 to 20 trade organisations that represent U.S. agricultural producers. The program focuses on generic promotion of U.S. commodities, rather than consumer–oriented promotion of branded products. Preference is given to organisations that represent an entire industry or are nationwide in membership and scope. The organisations, which contribute on average more than $2.50 for every $1 in federal funding they receive through the program, will conduct activities that help maintain or increase demand for U.S. agricultural commodities overseas. USDA has published the list of organisations that will receive fiscal year 2024 MAP awards and FMD awards. 

Late last year, USDA also announced a new fund that complements the fiscal year 2024 funds being announced today. The new Regional Agricultural Promotion Program (RAPP) will provide $1.2 billion to help exporters reach non-traditional markets and ensure continuity of relationships and trust in existing markets. RAPP complements MAP and FMD by encouraging exporters to establish, build and grow their presence in markets with increased demand for U.S. products and growing middle classes. Application for the first tranche of RAPP funding, $300 million, are being accepted through February 2, 2024. Applicants will be able to apply for projects that last up to five years.  USDA touches the lives of all Americans each day in so many positive ways. In the Biden-Harris Administration, USDA is transforming America’s food system with a greater focus on more resilient local and regional food production, fairer markets for all producers, ensuring access to safe, healthy and nutritious food in all communities, building new markets and streams of income for farmers and producers using climate smart food and forestry practices, making historic investments in infrastructure and clean energy capabilities in rural America, and committing to equity across the Department by removing systemic barriers and building a workforce more representative of America.

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