Wool Added to Eligibility List for FSFL Loans
U.S. Secretary of Agriculture Sonny Perdue this week added wool to the list of eligible commodities for Farm Storage Facility Loans through the Farm Service Agency.
FSFL provides low-cost financing for producers to store, handle and transport eligible commodities. Eligible commodities currently include grain, oilseed and pulse crops, hemp, eligible perishable commodities, hay, renewable biomass, honey, floriculture, milk, butter, cheese, eggs, yogurt, meat and poultry, and aquaculture. The Food, Conservation and Energy Act of 2008 gave the secretary discretionary authority to add other commodities for FSFL eligibility. Using this authority, the secretary added wool as an eligible FSFL commodity.
Wool is an annual crop and takes about 365 days to produce and needs to be stored in a temperature-controlled environment to maintain the quality. The addition of wool as an eligible FSFL commodity will benefit wool producers nationwide.
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