Rice Industry Looks for Insurance Fix Due to Flood
Arkansas rice farmers are pleading for relief from the U.S. Department of Agriculture (USDA) following recent floods. Of particular concern is a farm bill regulation related to crop insurance that restricts farmers options for planting crops following the drawdown of floodwaters. The provision related to insurance requires farmers to replant rice up to June 10th if it’s considered “practical to replant,” despite the fact that it’s widely known that planting rice that late in the season leads to significant yield declines. If the Secretary is able to grant a waiver or reprieve to these regulations, it could offer significant financial relief to farmers who may prefer to take an alternative route on their flooded acres. During his trip to Arkansas, Secretary Sonny Perdue indicated that he was reviewing the laws and regulations to determine his ability to grant such a waiver to the Risk Management Agency (RMA) rules.
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