Press release from the USDA. View original here.
WASHINGTON, Oct. 30, 2017 – The U.S. Department of Agriculture (USDA) today announced that starting Nov. 1, 2017, farmers and ranchers with base acres in the Agriculture Risk Coverage (ARC) or Price Loss Coverage (PLC) safety net program may enroll for the 2018 crop year. The enrollment period will end on Aug. 1, 2018.
“Since shares and ownership of a farm can change year-to-year, producers must enroll by signing a contract each program year,” said Farm Service Agency (FSA) Acting Administrator Steve Peterson. “I encourage producers to contact their local FSA office to schedule an appointment to enroll.”
The producers on a farm that are not enrolled for the 2018 enrollment period will not be eligible for financial assistance from the ARC or PLC programs for the 2018 crop should crop prices or farm revenues fall below the historical price or revenue benchmarks established by the program. Producers who made their elections in previous years must still enroll during the 2018 enrollment period.
“This week FSA is issuing approximately $850 million in rice payments,” said Peterson. “These payments are part of the $8 billion in 2016 ARC and PLC payments that started in October to assist enrolled producers who suffered a loss of revenue or price, or both. Over half a million producers will receive ARC payments and over a quarter million producers will receive PLC payments for 2016 crops.”
The ARC and PLC programs were authorized by the 2014 Farm Bill and offer a safety net to agricultural producers when there is a substantial drop in prices or revenues for covered commodities. Covered commodities include barley, canola, large and small chickpeas, corn, crambe, flaxseed, grain sorghum, lentils, mustard seed, oats, peanuts, dry peas, rapeseed, long grain rice, medium grain rice (which includes short grain and sweet rice), safflower seed, sesame, soybeans, sunflower seed and wheat. Upland cotton is no longer a covered commodity. For more details regarding these programs, go to www.fsa.usda.gov/arc-plc. For more information, producers are encouraged to visit their local FSA office. To find a local FSA office, visit http://offices.usda.gov.