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USDA ANNOUNCES IMPROVEMENTS IN ITS SORGHUM CROP INSURANCE PROGRAM
Dec. 1, 2023
Radio Oklahoma Network reports:
The United States Department of Agriculture's Risk Management Agency (USDA RMA) released several important updates to sorghum crop insurance that will continue to expand sorghum production and empower farmers across the nation. Effective in 2024, the price election factor for sorghum will be at its highest level ever relative to corn; simplifications made to the sorghum silage policy will offer more support to sorghum farmers; and a key barrier to insuring irrigated double crop sorghum was removed in certain areas.
The sorghum price election is determined by applying a multiplier to the corn crop insurance price. For 2024, this multiplier is 100.2%, the highest level ever for sorghum and surpassing corn for the first time in history.
"As sorghum prices continue to strengthen, this development is poised to bring substantial benefits to sorghum farmers by enhancing the financial protection of their sorghum crop," NSP CEO Tim Lust said. "The higher sorghum crop insurance price will serve as a significant incentive for growers to expand grain sorghum production, ultimately boosting the sorghum industry's vitality and profitability."
Recognizing the substantial growth in irrigated sorghum silage and forage acreage on the High Plains and around the U.S., RMA is simplifying the process for insuring irrigated sorghum silage. The previous requirement of having two years of history growing irrigated silage as a condition of insuring irrigated sorghum silage under the sorghum silage policy has been eliminated in New Mexico, Oklahoma and Texas.
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