Georgia Disaster Designations and Next Gen Fuels Act
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**Under two USDA national disaster designations, announced July 12 and 19, 10 Georgia counties are eligible for emergency loans from the USDA’s Farm Service Agency.
www.gfb.org reports, emergency loans can be used to meet various recovery needs including the replacement of essential items such as equipment or livestock, reorganization of a farming operation or the refinance of certain debts.
More disaster assistance information can be found on www.farmers.gov.
www.gfb.org/media-and-publications/news.cms/2022/1314/usda-disaster-declarations-cover-10-georgia-counties
**The all-items Consumer Price Index increased 1.4% from May to June, 9.1% higher than June of last year.
USDA once again raised its consumer food price inflation forecast from 8.5% to 9.5% for 2022, the biggest increase since 1979 when prices rose 11%.
Next year’s forecast is down to just 2.5 to 3.5%, more in line with the 20-year historical average of 2.4%.
**Legislation called the Next Generation Fuels Act was introduced last week in both the Senate and House that aims to leverage higher-octane fuels to improve engine efficiency and performance.
Some of the nation’s largest agricultural organizations applauded the move.
National Farmers Union President Rob Larew says the legislation supports usage of higher-level blends of ethanol, something NFU has long championed.
Growth Energy CEO Emily Skor says, “It’s a clear roadmap for delivering cleaner, more affordable options to American drivers.”
