Pennsylvania farmers can protect their income against unexpected losses by purchasing crop insurance before Sept. 30, said acting Agriculture Secretary Russell Redding.
The Crop Revenue Coverage (CRC) base fall price for winter wheat is set at $5.29 per bushel for the 2010 growing season.
“Farming is a rewarding, yet high risk business,” said Redding. “Tools like crop insurance allow farmers to protect their paycheck, keeping their operation viable for the next growing season. I urge Pennsylvania wheat producers to take advantage of the revenue protection offered through CRC policies to minimize risks associated with quantity, quality and revenue fluctuations of wheat crops.”
CRC policies use individual data to determine loss. A loss occurs when the dollar value of production falls below the dollar value of the revenue guaranteed by insurance.
Producers insuring more than 50 acres of wheat under a CRC plan grown on multiple farms may be able to combine their existing insurance units into “enterprise units” to receive up to a 50 percent premium reduction. Enterprise units may reduce the cost of traditional coverage and allow producers to secure insurance at higher coverage levels.
Producers should contact a local crop insurance agent before Sept. 30 to purchase insurance or change existing policies. Revenue protection and yield protection policies are available.
A list of agents can be found online.
Topics Agribusiness Pennsylvania
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