The U.S. Department of Agriculture said it is expanding coverage options to add revenue protection for forage producers in 12 states,
Implemented by USDA’s Risk Management Agency (RMA), the new coverage options guard against both yield losses and decline in price due to market changes.
“We closely collaborated with forage producers and industry stakeholders to develop this expanded policy to provide these coverage options in the areas where it is needed the most,” said RMA Administrator Pat Swanson.
This insurance policy will be structured similarly to other federal crop insurance revenue programs, replacing Actual Production History (APH) coverage for forage production in select counties located in California, Idaho, Iowa, Michigan, Minnesota, Montana, Nebraska, North Dakota, Pennsylvania, South Dakota, Washington, and Wisconsin beginning with the 2027 crop year.
Forage producers in eligible areas will have three plan options under this change:
- Yield Protection (YP): Provides coverage against loss in yield.
- Revenue Protection (RP): Provides coverage against loss in revenue due to a yield loss, price decline, or yield loss at higher prices.
- Revenue Protection with Harvest Price Exclusions (RP-HPE): Provides coverage against loss in revenue due to a yield loss, decrease in the harvest price below the projected price, or both.
Interested producers in eligible areas should contact a crop insurance agent to enroll before Sept. 30.
SOURCE: USDA
Topics Agribusiness
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