USDA has announced a third, and what promises to be a final, tranche of 2019 Market Facilitation Program payments for farmers. The payments will begin to show up in farmers’ bank accounts by the end of this week, according to USDA.
The payments follow the Phase One agreement with China and the U.S. signing of the U.S.-Mexico-Canada Agreement.
“We must not forget that 2019 was a tough year for farmers as they were the tip of the spear when it came to unfair trade retaliation,” according to Agriculture Secretary Sonny Purdue.
The payments are aimed at assisting farmers suffering from damage due to trade retaliation by foreign nations. The first round was comprised of the higher of either 50 percent of a producer’s calculated payment or $15 per acre, which may reduce potential payments to be made in tranche three. The second tranche was 25 percent of the total payment expected, in addition to the 50 percent from the first tranche.