Crop Commodity Loan
Farm Service Agency (FSA) announced TODAY
the resumption of 2013 Crop Commodity Loan Disbursements.
year 2013 commodity loan-making was suspended Oct. 1, 2013, to make changes
necessary to accommodate the automatic funding reductions known as sequester.
Sequestration is mandated by the Balanced Budget and Emergency Deficit Control
Act of 1985 as amended by the Budget Control Act of 2011.
commodity loan programs provide interim financing to producers for agricultural
commodities stored after harvest and then sold throughout the year. Producers
requesting 2013 crop commodity loans on their harvested commodities now will
have a 5.1 percent reduction to the loan amount upon its disbursement, due to
the sequestration. Commodity loans issued by marketing associations and loan
servicing agents are also subject to the sequestration reduction.
the period that loan-making was suspended, producers were still able to submit
loan applications to their county FSA offices, marketing associations and loan
servicing agents. The processing and disbursement of these applications will
further information about commodity marketing loans, farmers may contact their
local county FSA office or go online to www.fsa.usda.gov.
As an example, Tulare County USDA
Service Center posted on its website:
election of agricultural producers to the Farm Service Agency (FSA) that every
eligible producer participate in these elections because FSA county committees
are a link between the agricultural community and the U.S. Department of
Committee (COC) members are a critical component of FSA operations. The intent
is to have the COC reflect the diversity of producers and represent all
constituents. This means that minorities, women or lower income producers need
to be on the committee to speak for underrepresented groups.
Committee election ballots will be mailed to eligible Local Administrative Area
(LAA) 2 voters on Nov. 4, 2013. The last day to return completed ballots to the
USDA Service Center is Dec. 2, 2013.
Labels: County FSA offices, FSA Resumes 2013 Crop Commodity Loan disbursements, USDA FSA disburses Loans