USA Rice Federation released the following statement regarding the House Agriculture Committee's Farm Bill proposal:
"The USA Rice Federation commends Chairman Frank Lucas (R-Okla.) and Ranking Member Collin Peterson (D-Minn.) for producing a bipartisan farm bill that saves taxpayers money, achieves deficit reduction, and reforms and streamlines farm, conservation, and nutrition policies in a fair and balanced way. USA Rice is pleased to endorse the House farm bill.
(For more, see: Time grows short for farm bill action)
USA Rice looks forward to helping move a comprehensive farm bill forward this year so that producers have an effective farm policy in place for the next crop year.
The House Agriculture Committee's Federal Agriculture Reform and Risk Management Act recognizes that a one-size-fits-all approach to farm policy is not workable for all producers and regions. Instead the bill takes the positive step of acknowledging the diverse agriculture sector by offering a meaningful choice of risk management tools for all producers, crops, and regions of the country, while working to ensure that the choices offered to producers focus on addressing serious and sustained periods of losses.
The House Farm Bill's price loss coverage and revenue loss coverage options allow producers to focus risk management on the primary risk for their crops and region.
Given the increasingly unbalanced global trade environment for U.S. rice, and the continued escalation of input costs, it is imperative that U.S. rice producers have an effective farm policy to help manage the significant risks beyond the control of producers. The House bill provides these risk management policy options in a fiscally responsible, equitable, and balanced way."