The Alaska Seafood Marketing Institute (ASMI) was awarded USD 4.5 million (EUR 4.2 million) in U.S. Department of Agriculture (USDA) funding to spend on its international marketing efforts.

The Juneau, Alaska, U.S.A.-based marketing group said the funding was awarded through the Market Access Program (MAP), a federal program that helps share the costs of marketing and promoting American products to overseas customers. MAP funding requires matching funds from partner organizations.

“The timing of the new federal funds is well-aligned with the Alaska seafood industry’s needs to combat numerous global economic pressures,” ASMI International Marketing Director Nicole Alba said in a statement. “While these funds will help ASMI grow our international efforts, they will also allow ASMI to direct the Alaska seafood industry contribution as well as state funds toward the U.S. market, where significant opportunity exists due to the Russian seafood ban.”

According to ASMI, the institute has received USD 17.5 million (EUR 16.2 million) to spend on international marketing in the current fiscal year. On average, the institute receives roughly USD 40 million (EUR 37 million) in annual funding to promote Alaska seafood to overseas markets.

“We look forward to this opportunity to help grow the Alaska Seafood brand and increase demand around the world,” Alba said. “The ASMI International team has done a tremendous job to secure additional federal funds at a time of incredible need for the Alaska seafood industry.”

Source - https://www.seafoodsource.com