7-USDA Unveils $2.3 Billion Fund To Support US Commodities And International Food Aid

1. USDA Unveils $2.3 Billion Fund To Support US Commodities And USDA Unveils $2.3 Billion Fund To Support US Commodities And International Food Ai International Food Aid d The Secretary of Agriculture, Tom Vilsack, announced that the USDA will allocate $2.3 billion to help American agricultural producers sustain and expand their market reach, as well as use American commodities to boost international food aid efforts. The USDA is using resources from the Commodity Credit Corporation (CCC) to address trade-related and global food insecurity issues that impact both American and foreign farmers, in accordance with a request made by the Senate Committee on Agriculture, Nutrition, and Forestry. USDA's Monetary Commitments USDA's Monetary Commitments The Regional Agricultural Promotion Program has been allocated $1.3 billion, and the specialty crop industries are receiving support to expand their export markets. $1 billion will go toward the worldwide effort to fight hunger. “The Commodity Credit Corporation continues to address the needs of American producers as significant and unpredictable challenges arise,” stated Secretary Vilsack. “These challenges include impacts to international commodities markets and global food insecurity in the wake of ongoing conflict and a changing climate.” The Announcement The Announcement Secretary Vilsack made the announcement during the annual World Food Prize Borlaug Dialogue in Des Moines, Iowa. Global leaders and experts convene for this event to deliberate on global food security concerns. The disclosure comes on the 90th anniversary of the CCC, which was founded on October 17,

2. 1933, in reaction to the Dust Bowl's devastating impact on farming operations and the Great Depression. The CCC has played a significant role in maintaining market stability, bolstering farmer income and prices, and streamlining the marketing of agricultural goods for nine decades. Need For Regional Agricul Need For Regional Agricultural Promotion Program It is anticipated that the agricultural trade deficit will increase to $27.5 billion in FY24 from the current projected $19 billion in FY23. There is an essential need for more funding for market development because of the intense competition in the export markets of Asia and Africa. Research shows that for every dollar spent on developing export markets, exports increase by $24.50. Producers directly profit from this increase in exports. tural Promotion Program (RAPP) (RAPP) Investment in trade promotion preserves existing markets and creates new ones, while also reducing reliance on a few large markets by diversifying into non-traditional ones. The Regional Agricultural Promotion Program (RAPP) will receive an additional $1.3 billion investment with the goal of assisting exporters in expanding their share of emerging markets and breaking into new ones. Furthermore, focused technical support for the specialty crop industry will ease entry into markets that frequently present difficult non-tariff barriers. The USDA launched the Agricultural Trade Promotion Program (ATP) in reaction to the trade dispute with China five years ago; the program's funding will run out next year. As a result, a large number of exporters have already reduced their operations. The RAPP seeks to preserve vital market relationships while reducing the likelihood of this impending loss. Overseas Food Assistance Overseas Food Assistance Conflicts and disruptions in the supply chain have made the world's food insecurity worse. The FAO's Global Report on Food Crises estimates that 768 million people experience chronic hunger, and approximately 205 million people in need of food aid urgently. The US, with a food surplus, plans to collaborate with USAID, the primary federal agency for international emergency food aid, to purchase commodities for the most vulnerable populations globally. A $1 billion contribution will support efforts to combat global hunger while benefiting US agriculture through surplus commodity purchases. Stakeholders in US agriculture are eager to contribute to alleviating global hunger caused by conflicts, droughts, and other challenges. These additional commodities will help address critical resource shortages during this critical time. If you are an agricultural commodities importer wishing to buy agricultural commodities in bulk or an agricultural commodities exporter willing to export bulk agricultural commodities, then Tradologie.com is the right platform for you. Tradologie.com is a Software as a Service platform that facilitates bulk agro-trade across the globe. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities at negotiable rates.

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