The Department of Agriculture this week opened enrollment for the Agriculture Risk Coverage, and Price Loss Coverage programs. Agriculture Risk Coverage, known as ARC, provides income support payments on historical base acres when actual crop revenue declines below a specified guarantee level. Price Loss Coverage, known as PLC, provides income support payments on historical base acres when the price for a covered commodity falls below its effective reference price.
Agriculture Secretary Sonny Perdue called the programs “the bedrock of the farm safety net,” for crop farmers.
Updated provisions in the 2018 Farm Bill allow producers with an interest in a farm to enroll and elect coverage in crop-by-crop ARC-County or PLC, or ARC-Individual for the entire farm, for program year 2019. For crop years 2021 through 2023, producers will have an opportunity to make new elections. Farm owners cannot enroll in either program unless they have a share of interest in the farm.
Interested producers must sign up for either program by March 15, 2020.
Source: National Association of Farm Broadcasters