{"id":2325,"date":"2022-10-28T17:56:43","date_gmt":"2022-10-28T16:56:43","guid":{"rendered":"https:\/\/farmingfuturefood.com\/feb2025\/?p=2325"},"modified":"2023-01-19T12:26:34","modified_gmt":"2023-01-19T12:26:34","slug":"loan-proposal-aims-to-increase-us-ag-tech-uptake","status":"publish","type":"post","link":"https:\/\/farmingfuturefood.com\/feb2025\/loan-proposal-aims-to-increase-us-ag-tech-uptake\/","title":{"rendered":"Loan proposal aims to increase US ag-tech uptake"},"content":{"rendered":"\n

US officials hope to encourage more farmers access precision agriculture tools with the help of loans worth up to $500,000.<\/strong><\/p>\n\n\n\n

A bipartisan bill introduced by lawmakers in the House of Representatives wants to see the introduction of a precision agriculture loan program<\/a> to help producers invest in new technology, or retrofit existing equipment with precision ag equipment.<\/p>\n\n\n\n

It\u2019s hoped the program will increase the adoption of ag-tech in the US, which currently only utilised by only a quarter of producers, according to USDA figures.<\/p>\n\n\n\n

Under the proposal, farmers would receive funding via the USDA\u2019s Farm Service Agency. Loans would need to be repaid within three to 12 years, with interest rates set at lower than 2%.<\/p>\n\n\n\n

Democrat Representative Cheri Bustos, who co-sponsored the bill, said farmers need support to ensure they can manage the challenges of increased production costs. <\/p>\n\n\n\n

\u201cWith rising fertiliser costs and environmental concerns, it\u2019s more important than ever to promote precision agriculture,\u201d she said. \u201cUnfortunately, high costs make this cutting-edge technology out of reach for too many farmers.\u201d<\/p>\n\n\n\n

Surveys conducted amongst farmers in the US indicate adoption of precision agriculture technology is much lower than expected, thanks in part to the cost of investment.

According to the American Fruit Growers\u2019 2022 state of the industry report<\/a>, 42% of fruit growers  don\u2019t use precision agriculture tools because they are too expensive. <\/p>\n\n\n\n

Meanwhile the USDA\u2019s 2021 Farm Computer Usage and Ownership<\/a> report found just 25% of farmers use precision ag technology to manage crops or livestock.<\/p>\n","protected":false},"excerpt":{"rendered":"

Financial help aims to increase investment in new technology and retrofitting. <\/p>\n","protected":false},"author":3,"featured_media":2326,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[30,9],"tags":[209,124,213,137,43,214,211,215,216,212],"other-categories":[217],"class_list":["post-2325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-agriculture","category-technology","tag-adoption","tag-ag-tech","tag-ag-tech-funding","tag-agri-tech","tag-farming","tag-funding","tag-legislation","tag-precision-agriculture","tag-slider","tag-united-states","other-categories-slider"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/farmingfuturefood.com\/feb2025\/wp-json\/wp\/v2\/posts\/2325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/farmingfuturefood.com\/feb2025\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/farmingfuturefood.com\/feb2025\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/farmingfuturefood.com\/feb2025\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/farmingfuturefood.com\/feb2025\/wp-json\/wp\/v2\/comments?post=2325"}],"version-history":[{"count":3,"href":"https:\/\/farmingfuturefood.com\/feb2025\/wp-json\/wp\/v2\/posts\/2325\/revisions"}],"predecessor-version":[{"id":2348,"href":"https:\/\/farmingfuturefood.com\/feb2025\/wp-json\/wp\/v2\/posts\/2325\/revisions\/2348"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/farmingfuturefood.com\/feb2025\/wp-json\/wp\/v2\/media\/2326"}],"wp:attachment":[{"href":"https:\/\/farmingfuturefood.com\/feb2025\/wp-json\/wp\/v2\/media?parent=2325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/farmingfuturefood.com\/feb2025\/wp-json\/wp\/v2\/categories?post=2325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/farmingfuturefood.com\/feb2025\/wp-json\/wp\/v2\/tags?post=2325"},{"taxonomy":"other-categories","embeddable":true,"href":"https:\/\/farmingfuturefood.com\/feb2025\/wp-json\/wp\/v2\/other-categories?post=2325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}