A recent economic study indicates public-private U.S. agricultural export market development programs remain highly effective and generate a substantial return on investment.
The study, welcomed by the Coalition to Promote U.S. Agricultura Exports, was conducted by IHS Markit and Texas A&M University.
The researchers say MAP and FMD have accounted for 13.7%, or almost $648 billion, of all the revenue generated by U.S. agricultural exports between 1977 and 2019.
In letters sent last month, members of the Coalition and additional organizations asked U.S. House and Senate agricultural appropriations subcommittee leadership to maintain funding of at least $200 million for the Market Access Program and $34.5 million for the Foreign Market Development program in fiscal year 2023.
Citing strong competition for growing global food demand, the organizations said, “these modest investments are invaluable as we race to reclaim global export markets shut off during the pandemic and diversify markets amid war and geopolitical unrest.”