- The USDA has allocated a second round of $300 million through RAPP to promote U.S. agricultural exports.
- Applications are due by October 4, with awards expected by year-end.
- RAPP aims to diversify markets and address the growing agricultural trade deficit.
The USDA has announced an additional $300 million in funding through the Regional Agricultural Promotion Program (RAPP) to enhance U.S. food and agricultural exports.
This new round of funding aims to open and develop markets beyond the traditional top customers for American agricultural products, addressing the significant role exports play in supporting farm income and rural economies.
USDA’s $300 Million Boost for Agricultural Exports Targets New Markets
This initiative comes as the sector faces a growing agricultural trade deficit, forecasted to hit $32 billion this year. With a significant portion of U.S. agricultural production sold internationally, diversifying export markets is crucial. RAPP funding is expected to support this goal by providing resources for exploring new opportunities and strengthening trade relations globally.
The initial round of RAPP funding, awarded in May, saw 66 organizations receiving grants to support export development. The new funding aims to continue this momentum, addressing the need for market diversification as exports become increasingly vital to the agricultural sector’s economic health.
Despite the forecast of $170.5 billion in food and ag exports for this fiscal year, the sector is experiencing a decline from the record $196.1 billion of 2022 and faces a projected agricultural trade deficit of $32 billion. The USDA’s RAPP initiative is a strategic move to mitigate these challenges by focusing on emerging markets where demand for U.S. products is just beginning to grow.
The USDA’s RAPP program represents a significant investment in the future of American agriculture. By targeting new and underserved markets, the program aims to strengthen the global competitiveness of U.S. agricultural products and support the long-term sustainability of the sector.
With the additional $300 million in RAPP funding, the USDA is reinforcing its commitment to expanding U.S. agricultural exports. This funding will help address the trade deficit and open new market opportunities, ensuring that American farmers and producers can thrive in an increasingly globalized economy.
“Farmers have been clear that one of their top priorities is strengthening trade opportunities so they can thrive in a global market,” said Senate Agriculture chairwoman Debbie Stabenow.
