Area
United States of America
Commodity Group
Oilseeds, oils and meals
Commodity
Agriculture and aquaculture products
Date
01/09/2020
Policy Category
Production
Policy Instrument
Agricultural relief measures (COVID-19 related)
Description
Announced additional financial assistance up to USD 14 billion for farmers who continue to face market disruptions and associated costs because of the COVID-19 pandemic. The package follows a first relief programme launched in May 2020. Eligible row crops would include the following oilseeds: soybean, sunflowerseed, rape/mustardseed, groundnut, safflower and sesame. Payments would be calculated based on crop yields and the impact of COVID-19 on relevant commodity prices, with per farm disbursements subject to specific upper limits. In the case of soybeans, farmers are set to receive USD 0.31 per bushel (or USD 11.40 per tonne), with Government outlays amounting to almost USD 1.4 billion (based on prevailing official harvest projections).
Notes
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