A coalition of more than 40 commodity groups, lending organizations, input suppliers and other agricultural industry stakeholders have sent a letter to members of the House and Senate Agriculture Committees in support of meaningful and affordable crop insurance. The letter stresses that federal crop insurance is the cornerstone of risk management portfolios for many farmers – and expresses opposition to any program changes that would discourage producer participation or undermine private sector delivery. The groups note that crop insurance provides an effective risk management tool to farmers and ranchers when facing losses beyond their control while reducing taxpayer exposure to risk – and show support for current programs and their delivery by private insurers.
According to the letter – the significant, widespread crop losses of 2011 and 2012 have clearly demonstrated the need for crop insurance protection and the public-private partnership of program delivery. The letter goes on to say that farmers, ranchers, their lenders, input suppliers and other stakeholders agree crop insurance protection should remain a viable, affordable tool for risk management. In conclusion – the letter highlights the value of Congressional efforts that have been made to strengthen and improve crop insurance programs. It urges members to oppose actions that would reverse this progress. The letter states it makes little sense to reverse the progress Congress has made in providing crop insurance protection to producers – especially given the challenges of the 2012 crop year and the increasing global demand for food, fiber, feed and fuel.
The American Farm Bureau Federation, American Soybean Association, National Corn Growers Association, National Farmers Union and The Fertilizer Institute were among the groups that signed the letter
Source: NAFB News service