- The USDA has stated that hemp farmers across the country will soon be relieving financial aid in the form of a relief package.
- $13 billion has been allocated toward additional agricultural aid.
- Eligible farmers can receive $20 per acre of hemp crop.
Hemp farmers impacted by the coronavirus pandemic will soon be receiving financial aid in the form of a relief package, according to the U.S. Department of Agriculture (USDA).
The additional agricultural aid is estimated to be worth around $13 billion, and is expected to begin being distributed at the end of the month. One Agriculture Undersecretary, Bill Northey, says that the funds may even go out before President-elect Joe Biden takes office on January 20th.
In comments made by Northey last week, he expressed his urgency for providing farmers with relief.
“We certainly have some things we would like to be able to get out very quickly,” Northey stated.
Farmers who are eligible to receive this relief package can receive $20 per acre of hemp being grown. Although this does not precisely calculate out to compensate for loss per acre, farmers warmly welcome the financial support from the government.
Hemp farmers were excluded from the first rendition of the COVID-19 relief bill, with claims that the crop didn’t meet the qualifications for relief (a 5% price decline). However, hemp activists argued that there was not enough sufficient data available to back up this claim.
As a result, it was decided that hemp farmers would be included in the eligibility for the second round of coronavirus relief. As we approach a new presidency heading into 2021, even more financial assistance is expected to arrive.