Ag Groups Focus on Crop Insurance
The House Agriculture Committee continues key farm bill hearings this week, and as it does a dozen farm groups have sent a letter to House Ag Chairman Frank Lucas and Ranking Member Collin Peterson on the importance of crop insurance. In their letter the groups state – Federal crop insurance provides an effective risk management tool to farmers and ranchers when they are facing losses beyond their control. They note – it reduces taxpayer risk exposure; it makes hedging possible to help mitigate market volatility; and it provides lenders with greater certainty that loans made to producers will be repaid.
One of the groups that signed the letter was the National Corn Growers Association. NCGA has previously stated that crop insurance remains the number one priority in the new farm bill as well as a market oriented, risk management tool to cover multi-year price declines.
Other groups signing the letter were: American Farm Bureau Federation; American Soybean Association; American Sugarbeet Growers Association; National Association of Wheat Growers; National Barley Growers Association; National Cotton Council; National Farmers Union; National Sorghum Producers; National Sunflower Association; U.S. Canola Association; and the USA Dry Pea & Lentil Council.
Source: NAFB News Service