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Loans Available for Specialty Crop, Diversified Producers
Wisconsin Ag Connection - 05/29/2015

The USDA's Farm Service Agency says producers who apply for FSA farm loans also will be offered the opportunity to enroll in new disaster loss protections created by the 2014 farm bill. The new coverage, available from the Noninsured Crop Disaster Assistance Program, is available to FSA loan applicants who grow non-insurable crops, so this is especially important to fruit and vegetable producers and other specialty crop growers.

"FSA is opening its doors wider so that more specialty farmers know of our array of services," said State FSA Director Brad Pfaff. "And new, underserved and limited income specialty growers who apply for farm loans could qualify for basic loss coverage at no cost, or higher coverage for a discounted premium."

The basic disaster coverage protects at 55 percent of the market price for crop losses that exceed 50 percent of production. Covered crops include specialty crops, for instance, vegetables, fruits, mushrooms, floriculture, ornamental nursery, aquaculture, turf grass, ginseng, honey, syrup, hay, forage, grazing and energy crops. FSA allows beginning, underserved or limited income producers to obtain NAP coverage up to 90 days after the normal application closing date when they also apply for FSA credit.

In addition to free basic coverage, beginning, underserved or limited income producers are eligible for a 50 percent discount on premiums for the higher levels of coverage that protect up to 65 percent of expected production at 100 percent of the average market price. Producers also may work with FSA to protect value-added production, such as organic or direct market crops, at their fair market value in those markets.


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