The National Industrial Hemp Council recently announced it received $200,000 in U.S. Department of Agriculture Market Access Program funding to support export market development of industrial hemp.
MAP funds are administered through USDA’s Foreign Agricultural Service. Through the MAP program, FAS partners with U.S. agricultural trade associations, cooperatives, state regional trade groups and small businesses to share the costs of overseas marketing and promotional activities that help build commercial export markets for U.S. agricultural products and commodities. These funds can be used for facilitating trade missions and meeting with industry stakeholders and government regulators overseas.
“We are grateful for USDA confidence and the recognition of NIHC as the industry leader in industrial hemp trade and marketing,” said Kevin Latner, NIHC’s senior vice president for trade and marketing who will be responsible for implementing the program. “Today’s announcement makes NIHC a trusted partner to USDA for hemp fiber, feed, food and CBD companies looking to break down trade barriers in markets overseas.”
NIHC programs will focus on Europe and China and include market research, trade policy and trade facilitation. The global industrial hemp and products market was estimated at $11.1 billion in retail sales in 2019. With an annual growth rate of 52%, driven by continued strength in textiles, food and industrial uses and hemp-derived cannabidiol (CBD), the global market is forecast to be worth $89 billion by 2025.
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