Export Financing
FAS provides credit guarantees to encourage financing of commercial exports of U.S. agricultural products. By reducing financial risk to lenders, these credit guarantees encourage exports to buyers in countries — mainly developing countries — that have sufficient financial strength to have foreign exchange available for scheduled payments.
FAS export financing programs cover not only sales of U.S. commodities and value-added products, but also infrastructure improvements in importing countries that can help facilitate imports of U.S. agricultural goods.
Programs
Guarantees repayment when U.S. banks extend credit to foreign banks to finance sales of U.S. agricultural products.
Provides credit guarantees for infrastructure improvements in countries where demand for U.S. agricultural products may be limited by lack of adequate facilities.
Data and Analysis
On February 1, 2023, the Ministry of Finance, Government of India presented its annual Union Budget to the Lok Sabha (lower parliament house) for Indian fiscal year 2023/2024 (April 1-March 31). In its Finance Bill, 2023 (No. 02/2023-Customs), the Finance Ministry announced changes in customs and central excise duty rates for various commodities, including pecans.
The Ministry of Public Health (MOPH) Notification No.431 B.E. 2565 (2022) RE: Foods Derived from the Genetically Modified Organisms and Ministerial Notification No.432 RE: Labeling of GM Foods went into force on December 4, 2022.
On November 21, 2022, the Government of India’s Food Safety and Standards Authority of India (FSSAI) notified its draft notification F.No. 1/Standards/GMO&F/Misc/FSSAI/2018 (November 18, 2022).
News and Features
On April 14, 2023, the U.S. Department of Agriculture announced increased availability of credit guarantees for sales of U.S. agricultural commodities under the Commodity Credit Corporation’s (CCC) Export Credit Guarantee Program (GSM-102) for fiscal year 2023.
February 6, 2023
FAS Expands Exports, Advances Climate Resilience, Strengthens Food Security in 2022
USDA's Foreign Agricultural Service had an exceptional year in 2022, expanding U.S. agricultural trade, ramping up climate change resiliency work, and improving food and nutrition security around the globe.
February 1, 2023
Testimony by USDA Under Secretary for Trade and Foreign Agricultural Affairs Alexis Taylor to Senate Committee on Agriculture, Nutrition, and Forestry
Testimony by USDA Under Secretary for Trade and Foreign Agricultural Affairs Alexis Taylor to Senate Committee on Agriculture, Nutrition, and Forestry