WASHINGTON, DC – Signup is underway for two critical safety net programs under the 2018 Farm Bill as USDA issues more than $255 million in payments to producers covered under the programs.
ARC (Agriculture Risk Coverage) and PLC (Price Loss Coverage) are used by more than 1.8 million producers nationwide and blanket 92 percent of the base acres in production.
Producers have until March 15, 2023, to enroll and/or change their election from one program to the other.
Producers on farms with a PLC election can purchase Supplemental Coverage Option (SCO) through their approved insurance provider; however, producers on farms where ARC is the election are ineligible for SCO.
Unlike SCO, the Enhanced Coverage Option (ECO) is unaffected by an ARC election, and producers may add ECO regardless of the farm program election.
Upland cotton farmers who enroll seed cotton base acres in ARC or PLC are ineligible for the stacked income protection plan (STAX) on their planted cotton acres for that farm.
Learn more about the programs online at www.Farmers.Gov.
(SOURCE: All Ag News)