USDA officials say more details are coming soon for farmers waiting on assistance through the Farmer Bridge Assistance Program. The department has already distributed more than $6 billion in payments through the program, which was designed to help producers facing financial pressure from rising costs and market uncertainty.
Payment rates for specialty crops are expected to be released soon, with USDA targeting early April for the announcement. Deputy Agriculture Secretary Stephen Vaden told Politico that the agency is moving quickly to finalize the details.
“I believe we’ll have those payment rates in place by early next month,” Deputy Ag Secretary Stephen Vaden told Politico. “We’ll publish those payment rates as soon as we have them, and then quickly get going on the payment part of it.”
Vaden said several commodities are experiencing especially severe financial stress due to high production expenses and ongoing trade challenges. He pointed to sugar beets, cotton and rice as some of the crops currently facing the most pressure.
Lawmakers are also raising concerns about the broader financial outlook for farmers. Senate Agriculture Committee Chairman John Boozman recently told Bloomberg he believes producers may need additional federal support following a sharp rise in fuel and fertilizer costs tied to escalating geopolitical tensions.
“I think they’re definitely going to need more assistance,” Boozman said.
