Trump announces US $ 19 billion package for farmers

Posted by Marina

The US president, Donald Trump, announced on Friday (17) a $ 19 billion aid program to help farmers and ranchers affected by the pandemic COVID-19, reports "Xinhua". The so-called program of food assistance to the coronavirus provide $ 16 billion in direct support based on actual losses for farmers, where prices and market supply chains have been affected by the pandemic, according to the US Department of Agriculture ( USDA).

The USDA also will partner with regional and local distributors, whose workforce was significantly affected by the closure of many restaurants, hotels and other food service entities, to buy $ 3 billion in fresh produce, dairy and meat.

"This will help our farmers and ranchers, and is a well-earned money," Trump said in a news conference at the White House, adding that USDA will receive another $ 14 billion in July for further assistance. "We look forward to further details on how the aid will be distributed," said the president of the American Federation of Finance (FAF), Zippy Duvall said in a statement on Friday.

"The pandemic coronavirus forced the closure of restaurants, schools and cafeterias of schools, making the product prices fell sharply and were causing serious disruptions in the food supply chain," noted Duvall, adding that the relief program will provide a way of salvation for those families who have been affected by trade wars and harsh climate.

Last month, 48 agricultural groups, including FAF, called for Congress to expand the USDA loan authority to help farmers and ranchers who face serious challenges of cash flow during the pandemic of coronavirus.

"Millions of producers will need help with cash flow, given the rapid decline and unforeseen product prices, the likely closures of ethanol processing plants, eliminating effective direct sales to the consumer and the decline in demand for restaurants and school meals with full service, "wrote the group in a letter to congressional leaders.




Source: DATAGRO