$2.3B USDA fund aims to elevate U.S. Agri exports

Oct 27, 2023

The agricultural community is buzzing with the U.S. Department of Agriculture's (USDA) recent announcement. A generous fund of $2.3 billion from the Commodity Credit Corporation will be directed towards advancing the global reach of U.S. agricultural products and extending international food aid.

Of this amount, the USDA plans to invest $1.3 billion in the Regional Agricultural Trade Promotion Program, with the remaining $1 billion being funneled towards international food aid.

Jim Mulhern, at the helm of the National Milk Producers Federation (NMPF), lauds this step. With the U.S. dairy sector's deep reliance on exports, this new injection of funds is anticipated to intensify its global competitive edge. Mulhern also expressed hope that Congress will further fund vital programs like the Market Access Program and the Foreign Market Development Program.

Interestingly, these two programs have not seen a budget hike in over a decade and a half, despite their evident profitability. This has prompted calls from the likes of USDEC and NMPF for increased funding.

Ending on a positive note, Krysta Harden, leading the U.S. Dairy Export Council (USDEC), conveyed her optimism about the future of the dairy supply chain, reiterating the importance of trade opportunities. With backing from influential Senators and USDA's latest move, the path to broader markets and enriched dairy promotions in food aid appears promising.

Source : wisconsinagconnection

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