Farm Bill Implementation Outlined for Credit and Trade Titles

(WASHINGTON, DC) Agriculture Secretary Sonny Perdue provided an update on USDA’s implementation of the 2018 Farm Bill Wednesday. In regards to Title Three, which focuses on Trade, the government reported the Foreign Agriculture Service (FAS) had opened up a Notice of Funding Availability (NOFA) for FY 2020 Market Access Program, Foreign Market Development Program, Emerging Markets Program, and Technical Assistance for Specialty Crops Program funding. These programs are aimed at increasing export sales of U.S. commodities. Title Five deals with Credit and the Farm Service Agency (FSA) issued an amendment to increase the loan limits as authorized by the 2018 Farm Bill – specifically, to $600,000 for direct loans and $1,750,000 for guaranteed loans. FSA also issued an amendment to clarify eligibility requirements for farm ownership loans, including increased loan limits, and waiver authority for the three-year experience requirement in the case of a qualified beginning farmer or rancher.