Emergency assistance funds could cover 75% of eligible expenses for farmers and ranchers in select areas, driving grain bagger demand
Farm equipment dealerships in certain areas may have a unique opportunity to increase sales of grain bagging equipment this year, as a new government cost-sharing program is incentivizing farmers to buy it. In fact, farmers located within select counties of Minnesota, North Dakota, South Dakota, Illinois, Indiana, Iowa, Missouri, Tennessee and Kentucky may be reimbursed by up to 90% of their equipment purchases.
In March 2023, the USDA announced the Emergency Grain Storage Facility Assistance Program (EGSFP) as an effort to help areas that experienced widespread damage to existing grain storage facilities due to weather disasters. Eligible counties in Kentucky were selected as a result of tornados that affected the state in December 2021. Counties in other states were selected as a result of derechos, floods, hurricanes and winter storms that happened during 2022.
Program funds will help cover eligible expenses associated with building on-farm grain storage facilities. According to the USDA, grain baggers (including bags) are included in the list of qualifying purchases to receive cost sharing. Program documentation defines grain baggers as “machinery and accessory equipment (not limited to augers, loaders, unloaders) that allow grain to be stored temporarily in a polyethylene plastic sheathing type bag and allows grain to be stored in a dry, controlled environment.”Click here to see more...