USDA Eyes Non-Traditional Markets for Ag Exports

USDA Secretary Tom Vilsack announced a calendar of six agricultural trade missions for 2024 and the opening of a comment period on how to allot $1.3 billion in the new Regional Agricultural Promotion Program. Vilsack said, “The Agriculture Department will counter any decline in farm exports by seeking sales in new markets, including non-traditional destinations.”

“Market diversification is an important tool for maximizing growth opportunities for U.S. agriculture, as well as hedging the risk of market contraction and general volatility in the global marketplace,” said Vilsack. “USDA is committed to promoting export opportunities in non-traditional markets and ensuring that U.S. agricultural commodities and products are available to diverse consumer groups around the world.”

Agricultural trade missions are planned for South Korea, India, Canada, Colombia, Vietnam, and Morocco in 2024, beginning with South Korea during the week of March 25. Vilsack said the USDA would publish regulations for the new regional trade program on Friday, followed by a 30-day comment period.

EDITOR’S TAKE:

Agricultural exports set a record in 2022 at over $196 billion. They fell slightly in the 2023 marketing year. The decline is a partial motivation for the move recently announced by USDA to push for trade expansion in non-traditional markets. The other motivation – diversification always makes good sense. Introducing U.S. quality commodities and food products to new consumers can lead to long-term gains for our farmers/ranchers. We have pointed out on numerous occasions just how important exports are to maintaining strong net farm incomes in this country, so we strongly support any efforts to expand the reach overseas. With a sustainable income, farmers/ranchers will find it more feasible to purchase your trucks.