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USDA OFFICIAL REPORTS NEXT ROUND OF CFAP PAYMENTS TO FARMERS SHOULD BE NEXT MONTH
Jul. 13, 2020
Agri-Pulse reports:
When USDA announced its coronavirus relief payment plan it wasn't clear when - or even whether - farmers would get all of the payments that they are eligible for.
Now, Bill Northey, USDA's undersecretary for farm production and conservation, tells Agri-Pulse there should be enough money on hand to give farmers the remaining 20% of what they are due under the $16 billion Coronavirus Food Assistance Program. Northey says farmers should be getting those final payments by the time signup for CFAP ends Aug. 28.
"We'd like to be able to do it earlier than that," Northey said. "If we can look and see that we're going to have plenty of dollars yet, of course we haven't even announced the third group of commodities yet and we're still partway through signup."
Last week, USDA announced decisions on dozens of additional specialty crops were made eligible for CFAP payments.
Take note: As of this month, USDA has an additional $14 billion available in its Commodity Credit Corp. account. Northey says the department is awaiting direction from Congress in the form of a new coronavirus aid package. The next round of CFAP payments is expected to compensate farmers for losses that have occurred since mid-April.
"Congress has said very clearly that they recognize the losses are well beyond that $16 billion" being provided through CFAP, Northey said.
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