The U.S. Department of Agriculture (USDA) is updating sunflower seed crop insurance to include enterprise and optional units by type. This change will allow producers to receive indemnities by the type of seed.
"We're constantly reviewing our policies to ensure they work for producers," RMA Administrator Marcia Bunger said. "I am glad to announce this new flexibility for sunflower growers. We spent a considerable amount of time reviewing and analyzing this request from sunflowers growers and are excited to announce this change for the 2022 crop year."
With this update, if a producer has a gain on one type of sunflower seed, such as a confectionary type, it would not offset losses on another type of seed, such as an oil type.
Enterprise units are attractive to producers due to the additional premium discounts that are available because the risk is more diversified across the county.
Producers purchased more than 3,400 sunflower seed policies to protect nearly $300 million in liabilities in 2021.
RMA staff continue to work with crop insurance companies and other customers to assist in providing crop insurance coverage for producers. Farmers with crop insurance questions should contact their insurance agents about conducting business remotely (by telephone or email). More information can be found at farmers.gov/coronavirus.
Crop insurance is sold and delivered solely through private crop insurance agents. A list of crop insurance agents is available at all USDA Service Centers and online at the RMA Agent Locator. Learn more about crop insurance and the modern farm safety net at rma.usda.gov.
Categories: Minnesota, Business, Crops