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USDA to Allocate $2.5 Billion for Trade Promotion and International Food Aid

 09/24/2023

The USDA has announced a program to transfer $2.5 billion from the Commodity Credit Corporation to promote trade and provide food aid.  $1.4 billion will fund the Regional Agricultural Promotion Program, with some allocated to supplement the Market Access Program and the Foreign Market Development Program. An amount of $1 billion will fund commodity-based international food aid.

 

The USDA initiative was motivated by the Senate Agriculture Committee with the Chair Senator Debbie Stabenow (D-MI) and Ranking Member Senator John Boozman (R-AR) emphasizing the need for “better market opportunities for U. S. farmers by addressing trade promotion and in-kind international food assistance”.

 

The additional commodity promotion and aid funding is intended to move more agricultural products to developing markets and reduce the dependency on China.