Market diversification is path to increased farm exports, say trade officials
U.S. food and ag exports are concentrated in four markets that generate nearly $6 of every $10 in sales, said two senior U.S. ag trade officials on Thursday. To expand sales volume, they said at a trade group meeting, new customers must be developed in countries that have been off the export radar in the past.
USDA allots $300 million for first year of export program
The government will provide up to $300 million for the first year of a new program to build food and ag export sales in nontraditional markets, said Agriculture Secretary Tom Vilsack on Wednesday. The USDA has committed $1.2 billion over five years for the Regional Agricultural Promotion Program (RAPP) after the second year in a row of declining ag exports.