WASHINGTON, Dec 6, 2011 - The U.S. Department of Agriculture's (USDA) Risk Management Agency (RMA) announced today a new a pilot insurance program for table and oil olives in 12 California counties, beginning with the 2012 crop year. The sales closing date is January 31, 2012.
The pilot Olive Crop Insurance Program is an Actual Production History product that insures a grower's yield. The two-year, production-based policy features a new approach for addressing alternate bearing commodities like olives, where production can vary significantly with years of low production, or "off" years, typically followed by years of high production, or "on" years.
The program will be available in Tulare, Tehama, Glenn, Madera, Fresno, Butte, Kern, San Joaquin, Shasta, and Colusa counties for table olives and in Tulare, Tehama, Glenn, Madera, Fresno, Butte, San Joaquin, Colusa, Yolo, and Sutter counties for oil olives. Coverage levels from the catastrophic level to 75 percent are available.