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United States Department of Agriculture • Risk Management Agency
6501 Beacon Drive, Kansas City, MO 64133-4676
INFORMATIONAL MEMORANDUM: R&D-05-008
TO: All Reinsured Companies
All Risk Management Agency Field Offices
All Other Interested Parties
FROM: Tim B. Witt /s/ Tim B. Witt
Deputy Administrator
SUBJECT: Addendum to 2005 Crop Year (CY) Actuarial Document (Special Provisions) - (Crop Revenue Coverage (CRC)) Rice Base Price and Low & High Factors; and (Revenue Assurance (RA)) Rice Projected Harvest Price and Price Volatility Factor Announcement
Crop Revenue Coverage
In accordance with the Crop Revenue Coverage Commodity Exchange Endorsement [04-CRC-CEE], CRC rice coverage will not be provided for the 2005 crop year in rice counties with a February 15 or February 28 cancellation date. This results because 15 full active trading days cannot be established from either the Chicago Board of Trade November 2005 or September 2005 rice contracts for the trading period January 1 through January 31.
Rice coverage may be obtained under another available plan of insurance as shown in the county actuarial documents for the crop (e.g. Actual Production History (APH) or Revenue Assurance (RA), where available) if application is made by the applicable sales closing date. Insurance providers must contact those producers with CRC rice coverage and advise of other available insurance plans for the 2005 crop year. Attached is a map showing the CRC rice counties with either a February 15 or a February 28 sales closing date.
Revenue Assurance
The following 2005 crop year projected harvest price and price volatility factor have been approved for RA rice in all covered states.
Crop: Rice
Projected Harvest Price: $0.072/pound
Volatility Factor: 0.22
DISPOSAL DATE
This Informational Memorandum is for the purpose of transmitting information and the expiration date is December 31, 2005.
