USDA awards market development funds

The USDA announced it was awarding Fiscal Year 2016 funding for the Foreign Market Development Program and the Market Access Program to more than 60 U.S. agricultural organizations to help expand export markets for U.S. products.

FMD funds of $27.5 million were awarded to 23 trade organizations that represent U.S. agricultural producers. The funds will be used to help maintain and increase demand for U.S. agricultural commodities overseas.

The MAP funding of $172.8 million went to 62 nonprofit organizations and cooperatives to support market research, technical assistance and product promotion activities.

In 2010, an independent study found that MAP and FMD provides $35 in economic benefits for every dollar spent by public and private funds on market development.

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