ANNOUNCEMENT 22 Jun 2011

On 22 June 2011, the US government granted a production subsidy to multiple farmers worth USD 50 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. Farmers Mutual Hail Insurance Company Of Iowa.
https://www.usaspending.gov/award/ASST_NON_A&O2011FH092011_12D4

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

Inception date: 23 May 2011 | Removal date: open ended

Production subsidy

On 22 June 2011, the Department of Agriculture approved a production subsidy worth USD 50 million to multiple US agricultural producers. The support was granted through the Crop Insurance programme. Farmers Mutual Hail Insurance Company Of Iowa 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

 

AFFECTED PRODUCTS