USDA’s Risk Management Agency has issued a clarification of an earlier press release to make clear that farmers will receive a 15% top-up payment on prevented planting indemnities this year if their insurance policies had the Harvest Price Option.
The original version of the Sept. 26 press release said this: “Producers with Yield Protection and Revenue Protection with Harvest Price Exclusion will receive a 10 percent top-up payment, while producers with Revenue Protection will receive 15 percent.”
The new version specifies that HPO policies will receive the higher payment: “Producers with Yield Protection and Revenue Protection with Harvest Price Exclusion will receive a 10 percent top-up payment on their indemnity, while producers with Revenue Protection Harvest Price Option will receive 15 percent.”
The top-up payment comes from a disaster bill passed by Congress in June. In addition to the top-up, the bill also included funding for stored grain lost to 2019 flooding as well as WHIP+, which covers the loss of value from trees, bushes, or vines damaged through 2018 or 2019 hurricanes and wildfires.
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