USDA Secretary Sonny Perdue told Senate Appropriations Ag Subcommittee members that he does not think farmers should count on more Market Facilitation Program (MFP) payments.
But, he said, “if trade does not materialize, we are prepared to look at that again.” The likely need for a third round of trade aid was emphasized by Republican lawmakers.
“Given the coronavirus, given the impact it has on the trade agreements, I am going to ask you what your thoughts are in terms of it another round of MFP, which I feel may be needed,” said panel Chairman John Hoeven, R-N.D. He also asked if MFP 3 were to be offered, “Do you have the resources… to do that based on where you are in terms of the CCC (Commodity Credit Corporation) program?”
Perdue responded, “We would have to really know the timing there and really look at our cash flow within CCC,” noting that Congress replenished CCC last year to ensure MFP 2 payments were able to be disbursed on time. “What we know right now is the MFP program was a trade-disruption program not a price support mechanism,” Perdue said, echoing comments he has made before.
He emphasized President Donald Trump only suggested further aid will come if trade conditions warrant it.
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