Oct 29, 2015
WASHINGTON, DC – USA Rice received notification this week of the budget awarded by FAS for Fiscal Year 2016. Under the Market Access Program (MAP) USA Rice received an allocation of $2,485,000, a 1.2 percent increase from FY2015. Under the Foreign Market Development (FMD) the USA Rice budget will be $1,877,000, a 6.1 percent increase from the prior year. In total, USA Rice received a budget allocation of $4,362,000, an increase of $136,000 or 3.2 percent more than in 2015.
“We believe this increased budget reflects well on the quality and effectiveness of the International Promotion programs that are implemented by USA Rice to maintain and/or increase exports of U.S. rice,” stated John Valpey, chairman of the USA Rice International Promotion Committee.
“With an export dependent industry like rice, these added funds could not have come at a better time to support our promotion and trade policy efforts worldwide,” said USA Rice President & CEO Betsy Ward.