The Pet Food Institute (PFI) expresses its gratitude to the U.S. Department of Agriculture (USDA) for the establishment of the $1.2 billion Regional Agricultural Promotion Program (RAPP), which signifies a substantial investment in broadening and diversifying market opportunities for U.S. food and agricultural products.
"We are eager to invest our $2,045,000 award in efforts to enhance our market share in distinct and vibrant markets where the demand for high-quality, complete, and balanced pet food and pet food treats is on the rise," said a PFI spokesperson. "RAPP opens up new avenues for U.S. exporters to pursue in an increasingly unpredictable global marketplace. PFI is grateful to the USDA for its continual support of market access programming and for advancing the interests of the pet food industry."
RAPP was initiated to develop less established and traditional markets globally, with a focus on regions such as Africa, Latin America and the Caribbean, and South and Southeast Asia. The program aims to tap into growing consumer demand and purchasing power in these areas. The USDA allocated a total of $300 million in the first tranche of funding awards, supporting 66 agricultural trade organizations, including PFI.
The USDA's Regional Agricultural Promotion Program reflects the commitment to supporting the U.S. agricultural sector's expansion and resilience in an evolving global trading environment. Agriculture Secretary Tom Vilsack highlighted the importance of this initiative in making U.S. exporters more competitive and in promoting sustainable economic growth.
PFI's planned investments under RAPP will target market expansion efforts, leveraging this funding to create opportunities and reinforce the presence of U.S. pet food products in emerging markets. This initiative aligns with the overarching goal of supporting small and mid-sized farms and building wealth within rural communities.
