Feb 18, 2015
WASHINGTON, DC -- Earlier this month, the Risk Management Agency announced that revenue protection (RP) will not be offered with any rice crop insurance policies for the 2015 crop year due to "an insufficient number of full active trading days, as stipulated in the Commodity Exchange Price Provisions." Rice policies with RP or RP-HPE (harvest price exclusion) will be available in future crop years pending a sufficient number of full active trading days. Yield protection (YP) policies will remain available for the 2015 crop.
"We recognize this is a significant problem for our growers and we've expressed our frustration with the agency," said Ben Mosely, USA Rice Federation's vice president of government affairs. "RMA Administrator Brandon Willis is scheduled to meet with the USA Rice Producers' Group Crop Insurance Task Force during next week's Government Affairs Conference to discuss our concerns."
Contact: Evan Spencer (703) 236-1476