The Department of Agriculture will provide a third and 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.
However, Agriculture Secretary Sonny Perdue says, “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.”
The payments are aimed at assisting farmers suffering from damage due to trade retaliation by foreign nations.
This is the final of three tranches of MFP payments.
The first round was comprised of the higher of either 50% 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% of the total payment expected, in addition to the 50% from the first tranche.