ANNOUNCEMENT 01 Jun 2013

On 1 June 2013, the US government granted a production subsidy to multiple farmers worth USD 182 million as part of the program Crop Insurance.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

USAspending.gov. Award page. Crop Insurance. Nau Country Insurance Company.
https://www.usaspending.gov/award/ASST_NON_NARY13_12D4

USDA Risk Management Agency (RMA), "Crop insurance" (retrieved on 15/07/2021).Available at: https://www.rma.usda.gov/

Inception date: 01 Jun 2013 | Removal date: open ended

Production subsidy

On 1 June 2013, the Department of Agriculture approved a production subsidy worth USD 182 million to multiple US agricultural producers. The support was granted through the Crop Insurance programme. Nau Country Insurance Company acted as the intermediary.

The Crop Insurance Program provides insurance to agricultural producers to strengthen the economic stability of agricultural producers and rural communities. The program is administered by the Federal Crop Insurance Corporation (FCIC) under Risk Management Agency (RMA) of USDA. Insurance policies are sold by private sector insurance providers. RMA sets the premium rates, administers the premium and expense subsidies, approves and supports products, and reinsures the approved insurance providers.

Notably, crop insurance assistance is one of the pillars of the 2018 Farm Bill approved in December 2018 (please, see related state acts).

AFFECTED SECTORS