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January 17, 2024
Mike Pearson takes a look at some new funding for some USDA programs.
Last Monday, the USDA announced new funding for the Market Access Program and the Foreign Development program.
The programs were allotted a total of $203 million to expand food and export markets.
For every $1 used in developing these markets, $4 was gained in them.
The Market Access Program was given $174 million to distribute to 68 cooperatives and non-profits. Those groups will use them to develop brand initiatives and customers.
The Cotton Council International was given $14.7 million.
The U.S. Meat Export Federation and the Food Export Federation in the Midwest are slated to receive $10 million each.
Many other groups will also receive money including the National Industrial Hemp Council and the Mohair Council received between $134,000- $202,000.
The remainder $27 million will be distributed by the Foreign Development Program.
The Market Access Program will distribute funding to 20 additional ag producer and commodity programs.
For every $1, these groups receive, they will be responsible for kicking in $2.50 towards projects.
The investments will compliment non-traditional markets and strengthen export markets.
Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, farm broadcaster and host of This Week in Agribusiness.
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