The Regional Agricultural Propomtion Program (RAPP) is making an additional $300 million available for a second round of funding to encourage U.S. food and agricultural exports to new markets. The first round of funding was awarded to 66 organizations earlier this year. Agricultural Secretary Xochitl Torres Small said the second round of allocations is expected to be made by the end of the year. The deadline for applications is October 4.

Typically, one-fifth of U.S. agricultural production is sold to foreign buyers. Food and ag exports were forecast to reach $170.5 billion this year. This is down from the $196.1 billion record in 2022. The agricultural trade deficit is expected to set a record at $32 billion.

The USDA used 1.2 billion in funding in 2023 to create RAPP. The goal is to open and develop new markets. The U.S. Meat Export Federation said it provides dedicated resources in markets where demand has only scratched the surface.

Read more about the market expansion efforts through the Regional Agricultural Promotion Program (RAPP) here.