Producers Interested In ARC, PLC Must Sign Up This Week
Tuesday, March 15th is an important deadline for producers when it comes to managing their risk.
“We encourage them to make their elections and enrollments for our Ag Risk Coverage and Price Loss Coverage programs for the 2022 crop year, otherwise known as ARC and PLC," said FSA Administrator Zach Ducheneaux. "ARC and PLC provide income support for farmers from substantial drops in crop prices or revenues and are vital economic safety nets for most American farms. Both ARC and PLC are counter-cyclical, meaning that as the prices rise, the amount of the safety net protection will decline and vice versa. Producers who do not find a contract by March 15th will be ineligible to receive a payment, should one trigger for an eligible crop.”
Ducheneaux noted the programs have been very successful.
“Since the ARC and PLC were rolled out in the 2014 Farm Bill and renewed in the 2018 Farm Bill, these safety-net programs have paid out more than $32.5 billion to producers of covered commodities. That includes more than $2.2 billion paid in the 2021 and 2020 crop years. So far this year, producers have signed 1.2 million contracts or 67% of our expected enrollment.”
What commodities are eligible for ARC and PLC?
- wheat
- oats
- barley
- corn
- grain sorghum
- rice
- soybeans
- sunflower seed
- rapeseed
- canola
- safflower
- flaxseed
- mustard seed
- sesame seeds
- dry peas
- lentils
- small chickpeas
- large chickpeas
- peanuts
- seed cotton
If a producer has a long-term contract and makes an election change for 2022, Ducheneaux says they will have to sign a new contract.
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