Sec. Perdue Expects Third Tranche Of MFP Payments

Sec. Perdue Expects Third Tranche Of MFP Payments

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Sec. Perdue Expects Third Tranche Of MFP Payments, Stephanie Ho, USDAThis year, there were two rounds of the Market Facilitation Program (MFP), which is aimed at mitigating agricultural losses from trade. Secretary Sonny Perdue told reporters in Nebraska that there could be a third round of payments.

“I am expecting [a third tranche of payments],” he said. “We haven’t seen anything to give us any indication that way.”

Perdue said USDA authorizes the money, but the Office of Management and Budget makes the allocation.

“They were very helpful in the second tranche that we got out before Thanksgiving,” he said. “We don’t see a market move that would make it not needed for the third tranche after the first of the year.

Perdue was asked if there will be another MFP in 2020, but didn’t commit to an answer.

“If we get a deal with China, if markets move, if we can accumulate these trading relationships that we have, and we get back to a more stable trade relationship, I’d be hopeful we wouldn’t need a third Market Facilitation Program,” said Perdue.