The aim of MFP is to assist farmers suffering from damage due to trade retaliation by foreign nations. Producers will be eligible to receive 25% of the total payment expected, in addition to the 50% they received from the 2019 MFP (see previous post).
Payments began on November 18, 2019, through the Farm Service Agency (FSA) under the authority of the Commodity Credit Corporation (CCC) Charter Act to producers of several agricultural products, including peanuts. MFP assistance for these non-specialty crops is based on a single county payment rate multiplied by a farm’s total plantings of MFP-eligible crops in aggregate in 2019. County payment rates range from $15 to $150 per acre, depending on the impact of unjustified trade retaliation in that county.
MFP payments will also be made to producers of almonds, cranberries, hazelnuts, macadamia nuts, pecans, pistachios and walnuts, among others. Each specialty crop will receive a payment based on 2019 acres of fruit or nut bearing plants.
The third tranche of MFP payments will be made in January 2020.
USDA Issues Second Tranche of Market Facilitation Program