News

USDA extends crop insurance premium due date

The USDA has announced another extension of the due date for 2019 crop insurance premiums.

USDA Under Secretary Bill Northey tells Brownfield the agency will continue to defer the accrual of interest on those premiums until January 31st of next year.

“Recognizing that, in many cases, farmers don’t have all of their crop harvested—and, in some cases, not a lot of their crop harvested,” Northey says. “So for cash flow reasons, as well as to give us more time to settle what the losses are and maybe use that to pay premiums, we’re extending that due date.”

USDA had already extended the traditional September 30th due date to November 30th.   The latest extension means producers will have until January 31st, 2020, to pay the 2019 premium without accruing interest.

Link to news release

AUDIO: Bill Northey

Add Comment

Your email address will not be published.


 

stay up to date

Subscribe for our newsletter today and receive relevant news straight to your inbox!