Trade Aid | 婷婷激情五月天 Our Members Bring Choice, Value & Innovation to Agriculture Tue, 18 Feb 2020 20:22:25 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.4 /wp-content/uploads/2023/09/fema-favicon-75x75.png Trade Aid | 婷婷激情五月天 32 32 Farmers Receive Final Round of 2019 Trade Support /shortliner/farmers-receive-final-round-of-2019-trade-support/ Tue, 18 Feb 2020 20:22:24 +0000 /?p=9643 USDA earlier this month rolled out the final tranche of payments to farmers hurt by global trade disputes. The influx of funds could bring total payments for 2019 closer to $14.5 billion.

Prior to this distribution of aid, the Trump administration had paid around $11 billion to farmers and ranchers for their 2019 losses, as well as $8.6 billion for 2018. USDA approved the funds after the January thaw in trade tension with China.

In related news, payments from federal crop insurance total more than $6.4 billion for the 2019 growing season. That amount makes this the costliest year on record, resulting primarily from losses covered from the spring and summer floods across North and South Dakota, Minnesota, and Illinois, according to data from the USDA.

Steve Bowen, a meteorologist and head of catastrophe insight for an insurer, said that in terms of overall economic costs鈥攊ncluding damage to agriculture, infrastructure and other property鈥攖he 1993 floods along the Mississippi and Missouri rivers remain the costliest in modern history at $38 billion in today鈥檚 dollars. Last year鈥檚 disaster cost about $20 billion.

Source: Politico

]]> Final Round of Trade Aid to Farmers ‘Imminent’ /shortliner/final-round-of-trade-aid-to-farmers-imminent/ Tue, 28 Jan 2020 19:43:57 +0000 /?p=9466 U.S. Secretary of Agriculture Sonny Perdue reassured farmers recently that the third round of payments in the 2019 Market Facilitation Program (MFP) is coming.

鈥淚t鈥檚 imminent,鈥 he said of the payment, 鈥渁lthough you can define that how you want to in Washington, D.C.鈥

Perdue said this third tranche of a $16 billion aid package announced will be the last farmers should expect, because success on the trade front should restore farmer incomes in 2020.

Perdue spoke at the annual American Farm Bureau Federation convention last week in Austin.

鈥淲e know 2019鈥檚 been a pretty tough year,鈥 he told producers. 鈥淔arm disasters, unfair trade retaliation, low prices鈥攁ffected every farm in America. But you kept on keeping on and you persevered.

鈥淚n agriculture, we like to grow things and we would rather have trade than aid,鈥 he continued, citing a series of recent administration breakthroughs on trade. 鈥淪o, let鈥檚 sell stuff,鈥 he said. 鈥淥ur farmers are going to demonstrate to the world that we can grow a safe, healthy product the Chinese will love.鈥

Sources: Farm Progress, Reuters

]]> More Trade Aid On Its Way to Farmers /shortliner/a-new-round-of-trade-aid-on-its-way-to-farmers/ Tue, 12 Nov 2019 22:15:51 +0000 /?p=8586 USDA is moving forward with a second batch of direct payments for farmers and ranchers burned by retaliatory tariffs. 鈥淲e just have gotten authorization on the second tranche,鈥 Secretary Sonny Perdue told reporters last week. 鈥淲e鈥檒l be getting it ready hopefully at the end of this month or early December.鈥

It had been unclear if the department planned to offer another tranche of payments, with U.S. and Chinese officials working to finalize a partial trade agreement. USDA has already paid farmers $6.7 billion for their 2019 production, on top of $8.6 million that was provided for 2018.

Perdue said further aid might not be needed in 2020 if the limited U.S.-China agreement is signed.

Source: Politico

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