On May 18, the U.S. Agricultural Export Development Council (USAEDC) released an economic impact study confirming the effectiveness of export market development programs in expanding demand for U.S. agricultural products and generating a strong return on investment. The study was commissioned by the U.S. Grains Council on behalf of USAEDC members. More details are also available in this USAEDC press release and infographic.
U.S. Meat Export Federation (USMEF) President and CEO Dan Halstrom issued this statement:
"The remarkable rate of growth for U.S. red meat exports would not have been possible without critical investments available through the USDA Market Access Program and Foreign Market Development Program. More recently, the Agricultural Trade Promotion Program also helped offset the impact of retaliatory measures imposed by some trading partners. The USAEDC study quantifies the effectiveness of these programs and confirms the positive impact these investments have on the bottom line of U.S. farmers and ranchers and everyone in the U.S. supply chain. USMEF thanks USAEDC and the U.S. Grains Council for organizing the study and for making this information available to policy makers and key stakeholders."