ASMI Awarded $8.5 Million in New Federal Funding Focused on Expanding Marketing Efforts Internationally
JUNEAU, Alaska. December 19, 2024 – The Alaska Seafood Marketing Institute (ASMI) is pleased to announce it has secured $8.5 million in new federal funding to increase its international marketing efforts. ASMI anticipates using the USDA Foreign Agricultural Service Regional Agricultural Promotion Program (RAPP) funds, which will be used over five years, to diversify overseas markets for Alaska seafood in both the near and long-term as part of its mission to increase the economic value of the Alaska seafood resource.
These funds, which due to federal stipulations must be used for international purposes, are extremely welcome as the Alaska seafood industry seeks to emerge from the current global market collapse that has put incredible financial pressure on Alaska communities, fishermen, fishing families, processors, and seafood businesses. ASMI thanks the U.S. Department of Agriculture (USDA), the Foreign Agriculture Service (FAS), USDA Secretary Vilsack, as well as agency staff for their tireless efforts to quickly execute this new program.
“The timing of the new federal funds is well-aligned with the Alaska seafood industry’s needs to combat numerous global economic pressures. While these funds will help ASMI grow our international efforts, they will also allow ASMI to direct additional State funds toward the U.S. market, where consumer demand for seafood has fallen dramatically and is sorely in need of marketing support. We look forward to this opportunity to help grow the Alaska Seafood brand and increase demand around the world,” said ASMI Executive Director Jeremy Woodrow. “The ASMI International staff has done a tremendous job to secure additional federal funds at a time of incredible need for the Alaska seafood industry.”
USDA RAPP funds are required for use internationally to foster expanded exports and market diversification by encouraging the development, maintenance, and expansion of diverse commercial export markets for American agricultural commodities and products. Key expected uses of the funds include:
- Expand trade and foodservice promotions in Southeast Asia and Latin America and add consumer marketing programs to both regions.
- Expand efforts in Brazil to include consumer marketing and help grow this important market by $10-$15 million in exports per year.
- Add the Middle East/ North Africa (MENA) region as a program area, allowing for development of numerous promotional efforts like consumer, retail, foodservice and trade marketing.
- Execute a feasibility study to examine Alaska Seafood export potential to India.
- RAPP funding will also allow ASMI to supplement its ongoing efforts in Japan, the UK, and the EU.
Contact:
Greg Smith, Alaska Seafood Marketing Institute
(907) 465-5562, [email protected]
###
About Alaska Seafood Marketing Institute:
The Alaska Seafood Marketing Institute (ASMI) is a partnership between the State of Alaska and the Alaska seafood industry promoting the benefits of wild and sustainable Alaska seafood and offering seafood industry education. The seafood industry is Alaska’s largest basic private sector employer with nearly 60% of all wild seafood and 90-95% of wild salmon harvested in the U.S. coming from Alaska. In addition to wild salmon, Alaska is known for its crab and whitefish varieties such as Pacific cod, sablefish, halibut, Alaska pollock, sole and rockfish – available fresh or frozen year-round. Alaska has been dedicated to sustainable seafood for more than 50 years and is the only state with a constitution that mandates all seafood be managed under the sustained yield principle. Alaska has taken a leadership role in setting the global standard for precautionary resource management to protect fisheries and surrounding habitats for future generations and leading to an ever-replenishing supply of wild seafood for markets worldwide.
