The United States Department of Agriculture (USDA) has announced an additional US$700M COVID aid package for biofuel producers.
Part of the wider USDA Pandemic Assistance for Producers Initiative, the latest aid package was announced by US Agriculture Secretary Tom Vilsack on 15 June.
“USDA is honouring its commitment to get financial assistance to producers and critical agricultural businesses, especially those left out or underserved by previous COVID aid,” Vilsack said.
In March, the USDA had announced US$6bn in funds through the Pandemic Assistance programme to support a number of new programmes or to modify existing efforts in a range of sectors, including the biofuels industry.
The latest funding was due to be implemented within 60 days of the announcement and would continue to focus on filling gaps in previous rounds of assistance, the statement said.
The programme would continue to help new, socially disadvantaged and small and medium-sized producers that most needed support, the USDA said.
Other sectors to receive financial aid included dairy farmers, poultry and livestock producers and seafood processors.