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NEWS Farm Service Agency Public Affairs Staff 1400 Independence Ave SW Stop 0506, Room 3624-South Washington, D.C. 20250-0506
Release No. 1566.06
Stevin Westcott (202) 720-4178
New Program Compensates Producers and First-Handlers for 2005 Hurricane Losses
WASHINGTON, Oct. 31, 2006 - Teresa Lasseter, administrator of USDA's Farm Service Agency (FSA), announced that sign-up for the $15 million 2005 Cottonseed Payment Program (CPP) begins today. The new program provides assistance to producers and first-handlers of the 2005 cottonseed crop in counties declared natural disaster areas by President George W. Bush, and contiguous counties, as a result of damage from 2005 hurricanes Katrina, Ophelia, Rita and Wilma.
"We are eager to assist the cotton industry recover fully from the effects of the 2005 hurricane season," said Lasseter. "The 2005 Cottonseed Payment Program is another step in this direction."
The sign-up begins with today's publication of a CPP final rule in the Federal Register. The sign-up deadline for CPP is Dec. 29, 2006, received by 11:59 p.m. FSA will administer CPP payments on behalf of USDA's Commodity Credit Corporation (CCC). The Emergency Supplemental Appropriations Act for Defense, the Global War on Terror, and Hurricane Recovery of 2006 authorizes the program.
The CPP fact sheet contains a complete list of eligible counties and is posted online at: CLICK HERE. Producers and first-handlers must meet eligibility requirements to receive CPP benefits. Any variety of 2005-crop upland cottonseed and extra long staple (ELS) cottonseed produced and ginned in the United States is eligible. Other eligibility requirements apply.
CCC will calculate the payment rate by dividing the total available program funds by the total eligible payment quantity of cottonseed. Eligible applicants may not receive more than the national average price of 2005-crop cottonseed as determined by CCC, or $98 per ton, multiplied by the applicant's total eligible payment quantity (ton-basis). CCC will base payments on 2003 cottonseed production data.
Applications are available at local USDA Farm Service Agency offices and online at: http://www.sc.egov.usda.gov.
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