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Battling COVID-19: US announces details of CFAP Program to help farmers and ranchers

The US recently announced the details of CFAP (Coronavirus Food Assistance Program), which will provide up to $16 billion in direct payments to America’s farmers and ranchers.

The total amount of assistance includes $9.5 billion appropriated by the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) & nearly $6.5 billion from the Commodity Credit Corporation Charter Act.

The assistance program would provide direct support based on actual losses where prices and market supply chains have been affected. Moreover, for the 2020 marketing year, this scheme would also help the producers with additional costs due to lost demand and short-term oversupply caused by the outbreak of COVID-19.

“America’s farming community is facing an unprecedented situation as our nation tackles the coronavirus. President Trump has authorized USDA to ensure our patriotic farmers, ranchers, and producers are supported and we are moving quickly to open applications to get payments out the door and into the pockets of farmers,” said the U.S. Secretary of Agriculture Sonny Perdue.

“These payments will help keep farmers afloat while market demand returns as our nation reopens and recovers. America’s farmers are resilient and will get through this challenge just like they always do with faith, hard work, and determination,” Perdue added.

From May 26, the government will start accepting applications from agricultural producers who have suffered losses.

Editorial Desk at Agrigate.Global

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