Risk Management Agency Program Announcement
OCTOBER 31 SALES DEADLINE
Contact: Eric
Edgington (202) 690-2539
Eric.Edgington@rma.usda.gov
WASHINGTON, Oct 25, 2000 - Administrator Ken Ackerman of the Risk Management Agency (RMA) reminds producers that the October 31 sales closing date, which covers some fall-seeded barley, forage production, oats, and wheat crops is near.
"The drought suffered by many of our grain farmers this year underscores the importance of purchasing crop insurance. Following the increased subsidies provided by the Agricultural Risk Protection Act of 2000 (ARPA), many of our producers are finding that they are able to afford higher levels of coverage," said Ackerman.
Premium Subsidy Changes from CY 2000 to CY 2001
|
Coverage Level |
50/100 |
55/100 |
60/100 |
65/100 |
70/100 |
75/100 |
80/100 |
85/100 |
|
Old Subsidy* |
55% |
46% |
38% |
42% |
32% |
24% |
17% |
13% |
|
New Subsidy** |
67% |
64% |
64% |
59% |
59% |
55% |
48% |
38% |
*Applied to major crops under APH coverage plan. For revenue plans, subsidy applied to yield portion of premium only. Rates of subsidy also could differ for price elections less than 100%.
** Applies to all plans of insurance and all price levels within a coverage level.
The October 31, 2000, sales closing date includes the following crops and states:
Barley: Arizona, California, Nevada, Utah
Forage Production: California, Nevada, Utah
Oats: California
Wheat: Arizona, California, Nevada, Utah.
Producers should contact a crop insurance agent to discuss their options. A list of agents is available at local Farm Service Agency offices or at the RMA website: http://www3.rma.usda.gov/tools/agents/
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