The Food, Conservation, and Energy Act of 2008 (2008 Act) reauthorizes nonrecourse marketing assistance loans (MALs) and loan deficiency payment (LDPs) for the 2008 through 2012 pulse crops of dry peas, lentils, small chickpeas, and for the first time MALs and LDPs for large chickpeas for the 2009 through 2012 crops.
Nonrecourse MALs and LDPs are administered by the Farm Service Agency (FSA), on behalf of the Commodity Credit Corporation (CCC).
See the fact sheet Nonrecourse Marketing Assistance Loans/Loan Deficiency Payments for additional information about MALs and LDPs.
for information on the following subjects
- Nonrecourse Marketing Assistance Loans -
- Nonrecourse Marketing Assistance Loans and Loan Deficiency Payments
- Other Loan Eligibility Requirements
- Risk of loss in the commodity
- LDPs for Pulses Sold Upon Harvest
- Final Loan/LDP Availability Dates
- Adjusted Gross Income and Payment Limitations
- Adjusted Gross Income Limitation
- Counter-cyclical Payments
- Marketing Loan Gains and Loan Deficiency Payments
- For small chickpeas and Large Chickpeas the national loan rate is applied uniformly in all counties;
- For lentils, and dry peas, two regional loan rates were established and apply uniformly in all counties within those regions;
- Are based on the county where the commodities are stored; and
May be adjusted by CCC with premiums and discounts to reflect quality factors of a given quantity placed under loan.
Pulse Crop Loan Rates Per Hundredweight (cwt): 2009-2012