Earlier this week, the Risk Management Agency released adjusted planting dates for insurance purposed for cotton in many North Carolina and Virginia counties. Russ Vollmer, Marketing Supervisor for Rain & Hail Insurance:
“That was a positive change as far as giving the cotton farmers in those counties additional time to plant their cotton and insure it a t full value.”
Vollmer outlines the new planting dates:
“The new date in those counties is May 25. Last year the farmer had until May 15 to plant his cotton and insure it at full value. After that period of time the guarantee is reduced 1% per day in the late planting period.”
Vollmer explains this change came about through a normal review by the RMA:
“The RMA has a normal review of different crops where they reach out to county extension and other experts to find out if their planting dates are aligned with what farmers are typically doing now. Through normal review, RMA will change planting dates from time to time if the information they get from the agents warrants it.”
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