USSEC Receives Agricultural Trade Promotion Funds
Funds will help expand global market access for U.S. Soy
ST. LOUIS – The U.S. Soybean Export Council (USSEC) announced the allocation of $12,750,000 Agricultural Trade Promotion (ATP) program funds. The newly released funds are in addition to the $21,882,165 million USSEC received in January 2019 and will be used by U.S. Soy to build new markets for U.S. soybean producers who have been impacted by tariffs and other trade barriers.
“U.S. soybean farmers have been disproportionately impacted by export uncertainty for the past year,” said Jim Sutter, CEO, USSEC. “This funding provides additional resources so we can continue to implement our short- and long-term strategies to help our farmers and industry members compete globally.”
This spring, the United States Department of Agriculture (USDA) announced it would begin accepting proposals for additional ATP program funds, which would help U.S. Soy access new markets for their products and mitigate the adverse effects of other countries’ tariff and non-tariff barriers. Following the announcement, USSEC submitted a request for additional ATP funds which included detailed plans to increase U.S. soy market share and build demand for U.S. soy.
“Receiving additional ATP funds is a positive step forward for the present and future of U.S. Soy,” said Derek Haigwood, USSEC chairman and a farmer from Newport, Ark. “U.S. soybean farmers and exporters should know that USSEC is working hard on their behalf to build global demand and expand market access for U.S. soy products.”
“As we move forward, USSEC can now enhance our focus on expanding in global markets where we can have an impact and investing in markets that represent future growth opportunities,” Sutter said.
About USSEC – The U.S. Soybean Export Council connects U.S. soybean farmers with opportunities to improve human nutrition, livestock production and aquaculture. This mission is accomplished with a science-based technical foundation and a global network of partnerships including soybean farmers, exporters, agribusiness and agricultural organizations, researchers and government agencies. USSEC operates internationally and works with aquaculture programs in different nations to help ensure sustainability and profitability for industry producers. USSEC programs are partially funded by the United Soybean Board (USB).