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07/14/2011 09:18 AM EDT
For Immediate Release
July 14, 2011
Tara Gruber (609) 587-0104
July 14, 2011
Contact:
Tara Gruber (609) 587-0104
USDA ISSUES ASPARAGUS REVENUE MARKET LOSS ASSISTANCE
Hamilton Square, NJ, July 14 2011 —New Jersey State Executive Director Paul Hlubik announced that USDA will issue over $815,000 in payments here in New Jersey for the Asparagus Revenue Market Loss Assistance Payment (ALAP) Program. Payments to asparagus producers approved for ALAP benefits will begin on July 13, 2011.
ALAP payments will partially compensate asparagus producers for revenue losses during the 2004 through 2007 crop years,” Hlubik said.
The payment rate for fresh market asparagus production is $0.5332566 and the payment rate for processed market asparagus production is $0.4416120. These factored payment rates were determined from all approved applications that were submitted during the sign-up period and were calculated by dividing the funds available for each marketing category ($7.5 million for each), by the total eligible quantity of 2003-crop production for each marketing category submitted for payment. The payment rate for each marketing category cannot exceed the actual rate of revenue loss. ALAP Program payments to asparagus producers will be capped at $100,000 per producer, per marketing category (fresh and processed).
For more information about USDA Farm Service Agency market loss assistance programs, please visit your FSA county office or http://www.fsa.usda.gov.
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