Monday, June 1, 2009

Update on the Aquaculture Feed Stimulus (Recovery Act – 2008 Aquaculture Grant Program)

The Recovery Act authorizes $50 million of Commodity Credit Corporation funds for grants to states that agree to provide assistance to eligible aquaculture producers for losses associated with high feed input costs during the 2008 calendar year.

We still do not know how long it will take for the money to get to fish producers. The latest time line is as follows:

1. A press release from USDA on Tues.June 2.
2.Agreements will be mailed to State Department of Agriculture on June 2
3.Agreements must be signed and returned to USDA.
4.States must submit applications,guidelines and work plan to USDA for approval.
5.After approval USDA will sent the money to the states.
6.The State must advertise the grant program and sign up all eligible aquaculture producers in the state.
7.Depending on how the program is designed,the state will have to notify the producers and the feed mills how much in feed credits the producers will receive or send a check to the producer for that amount.

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