Chairman Crawford cited the need for action by the Department to address the collapse in cotton prices due to actions taken by the Chinese government, stating, “USDA has the authority to address an issue that is making the marketing of cotton extremely difficult for cooperatives and marketing pools at a time when the markets are already beating them down.” The Chairman called newly proposed “actively engaged” regulations "arbitrary and capricious," noting that the regulation "ignores the remarkable diversity and complexity in agriculture today."[emphasis added] And, the Chairman called on RMA Administrator Willis to ensure that margin coverage being developed works for rice growers.Do I have to say that cotton and rice growers are the most affected by potential changes to payment limitation rules?
Hat Tip to Farm Policy, which is shutting down next week.
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