USDA reports record enrollment in key farm safety-net programs
WASHINGTON, D.C. — Producers signed a record 1.77 million contracts for the U.S. Department of Agriculture’s Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs for the 2019 crop year, which is more than 107% of the total contracts signed compared with a five-year average.
“Producers for several years have experienced low commodity prices, a volatile trade environment and catastrophic natural disasters,” said Richard Fordyce, Administrator of USDA’s Farm Service Agency (FSA). “Farmers looking to mitigate these risks recognize that ARC and PLC provide the financial protections they need to weather substantial drops in crop prices or revenues.”
Producers interested in enrolling for 2020 should contact their FSA county office. Producers must enroll by June 30 and make their one-time update to PLC payment yields by Sept. 30.
FSA attributes the significant participation in the 2019 crop year ARC and PLC programs to increased producer interest in the programs under the 2018 Farm Bill, as well as an increase in eligible farms because of the selling and buying of farms and new opportunities for beginning farmers and military veterans with farms having 10 or fewer base acres. Enrollment for 2019 ended March 16.