WASHINGTON, July 23, 2012 - TOMORROW, Agriculture Secretary Tom Vilsack will keynote the Iowa Farm Bureau's 2012 Economic Summit. The Secretary will discuss the ongoing drought, USDA's efforts to assist producers, and the innovation and resilience of rural Americans in tough times such as these. He will also discuss some of the strengths shared by producers and rural communities that better position us to face this drought now than in years past - new technologies, lower debt, and the continuing strength of export markets.
As of July 20, the U.S. Department of Agriculture has designated 1,297 counties across the country as disaster areas. According to the most recent U.S. Drought Monitor report, 88 percent of our nation's corn and 87 percent of our soybeans are in drought-stricken areas.
At President Obama's direction, USDA has announced a number of measures using existing authority to help producers impacted by drought. On July 11 USDA announced a final rule to simplify the process for Secretarial disaster designations; reduced the interest rate for Farm Service Agency Emergency Loans, lowering the current rate from 3.75 percent to 2.25 percent; and reduced the payment reduction for Conservation Reserve Program lands that qualify for emergency haying and grazing in 2012, from 25 to 10 percent. Today Secretary Vilsack announced additional measures to create more flexibility within USDA's major conservation programs - allowing additional emergency haying and grazing on more Conservation Reserve Program lands and other conservation lands for drought-stricken producers. Secretary Vilsack also today sent a letter to crop insurance companies asking them to voluntarily defer the accrual of any interest on unpaid spring crop premiums by producers until November, an extra 30 days.
Tuesday, July 24, 2012
12 p.m. CDT
WHAT: Agriculture Secretary Tom Vilsack will deliver keynote remarks to the Iowa Farm Bureau's 2012 Economic Summit
WHERE: Iowa State Center Scheman Building
Iowa State University
Ames, IA
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