The U.S. Department of Agriculture (USDA) has announced additional funding to help diversify export markets for U.S. agricultural products. An additional $300 million in funding is going to be made available for the Regional Agricultural Promotion Program (RAPP). Notably, $25 million of the RAPP funding is set aside for initiatives in Africa, which has high economic growth but low U.S. export investment.
This funding aims to support American farmers and enhance global food security by expanding their customer base beyond established markets like China, Mexico, and Canada. Since its launch last year, RAPP has generated significant interest, with over a billion dollars in proposals submitted during the initial funding round. The USDA has previously allocated $300 million in RAPP funding to 66 organizations for various market development projects.
Interested organizations will have until October 4 to submit an application for funding, with allocations expected to be announced by the end of the year.
Listen to the report below.
Brian German
Ag News Director / AgNet West