The Department of Agriculture is in the process of issuing $1.8 billion in payments to agricultural producers. The funds are for farmers enrolled in the Agriculture Risk Coverage and Price Loss Coverage programs for the 2020 crop year. The payments provide support to help mitigate fluctuations in either revenue or prices for certain crops. These two USDA safety-net programs help producers of certain crops after facing the impacts of COVID-19 and other challenges. FSA Administrator Zach Ducheneaux says, “these programs provide stability when markets are volatile, making a big difference in the lives of farm families across the country.” Additionally, USDA’s Farm Service Agency encourages producers to contact their local USDA Service Centers to make or change elections and enroll for 2022 ARC or PLC. The election and enrollment period runs through March 15, 2022. If an election is not submitted by the deadline, the election remains the same as the 2021 election.
USDA Provides $1.8 Billion to Offset Market Fluctuations