Expanded Pilot Biotechnology Endorsement Includes Genuity SmartStax and Irrigated Acres in all Program States Changes Help Farmers Receive Additional Crop Insurance Rate Reductions
The Biotechnology Endorsement provides eligible farmers an opportunity to pay a lower premium on their crop insurance when they meet certain requirements. On Sept. 16, the U.S. Department of Agriculture’s Federal Crop Insurance Corporation Board of Directors expanded the Biotechnology Endorsement program. The addition of Genuity™ SmartStax hybrids to the Biotechnology Endorsement program for irrigated and non-irrigated corn in all states included in the pilot program. The inclusion of irrigated acres to all 12 states.
To be eligible for the Pilot BE utilizing only MONSANTO's advanced triple stack technology farmers must plant, including any replanted acreage, at least 75% of their total insured corn acreage in the unit to corn for grain planted tGenuity SmartStax, YieldGard VT Triple, Genuity VT Triple PRO, or YieldGard Plus with Roundup Ready Corn 2 Hybrids. The insured must also purchase a qualifying type of insurance policy (APH, CRC or RA). The Pilot BE is available to be offered by all approved insurance providers.
2009 Highlights include:
BE participation increased from 5.9 million acres in 2008 to 11.8 million acres in 2009Farmers saved, on average, $4.24 per acre by enrolling in the 2009 BE. Total farmer savings exceeded $50M with the BE in 2009.
For more information visit: "It's coming from an insurance company, from the government and reflected in the marketplace where there are tangible market benefits for using biotech products, the traits of biotech. They clearly reduce risk for farmers." - Rick Tolman, CEO, National Corn Growers Association.
Participation in the Pilot BE in no way changes the importance of following IRM refuge requirements for this technology. |
