A recent econometric study conducted by IHS Markit and Texas A&M University shows that public-private U.S. agricultural export market development programs remain highly effective. Senior Government Relations Representative with the National Cotton Council, Robbie Minnich said the findings were similar to other previous studies. Programs such as the Market Access Program and the Foreign Market Development Program provide substantial value for farmers and the overall economy.
“Export programs have added an average of $9.6 billion per year to export value between 1977 and 2019. For every $1 invested, it returned an average of $24.50, and it increased cash receipts by over $12 billion per year,” said Minnich. “For the farmer, these programs are working extremely well. And it shows that for the taxpayer who helps fund these through the farm bill that they are seeing the benefit too.”
Listen to the radio report below.
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