Agriculture Secretary Tom Vilsack announced that USDA will issue approximately $2.4 million in 2010-crop payments to farmers enrolled in the Average Crop Revenue Election (ACRE) Program for rice. The Food, Conservation, and Energy Act of 2008 (2008 Farm Bill) requires 2010 final ACRE payments to be made beginning Oct. 1, 2011, or as soon as practicable following the end of the 2010 marketing year. Final 2010 rice prices were announced on Jan. 31, 2012.
ACRE is administered by the Farm Service Agency (FSA). A state’s ACRE payment rate “triggers” when a state’s actual revenue per acre falls below the state’s guarantee revenue per acre. As a result, payment rates vary by state. For 2010, Arkansas, California and Louisiana “triggered” ACRE payments for both long grain rice and medium grain rice. Mississippi, Missouri and Texas “triggered” for long grain rice.
Producers have been issued just over $8 million for other program commodities under the 2010 ACRE program. Rice is the final commodity for which 2010 ACRE payments are determined.
Congress established ACRE as part of the 2008 Farm Bill to protect producers from crop revenue losses. A farm ACRE payment for a commodity is issued when both the state and farm revenue for a commodity show a decline. Additional information on the ACRE payment program can be found in the ACRE Program Fact Sheet.
For more information on the ACRE payment program, visit a local FSA office or the FSA website at www.fsa.usda.gov/dcp.