USDA Provides Targeted Ginning Cost Share Assistance to Cotton Producers
South Carolina Department of Agriculture
Hugh E. Weathers, Commissioner
Media Contact: Stephanie Sox, 803-734-2196, ssox@scda.sc.gov
FOR IMMEDIATE RELEASE – June 15, 2016
USDA Provides Targeted Ginning Cost Share Assistance to Cotton Producers
COLUMBIA, S.C. – The U.S. Department of Agriculture (USDA) Farm Service Agency (FSA) recently announced it will provide an estimated $300 million in cost-share assistance payments to cotton producers through the new Cotton Ginning Cost-Share (CGCS) program, in order to expand and maintain the domestic marketing of cotton.
“This much needed marketing support will help stabilize the cotton industry as Congress and the USDA continue to work towards long-term policy solutions,” said Commissioner Weathers.
Through the Cotton Ginning Cost-Share program, eligible producers can receive a one-time cost share payment, which is based on a producer’s 2015 cotton acres reported to FSA, multiplied by 40 percent of the average ginning cost for each production region. The regional payment rate for South Carolina is $47.44/acre. Cost share payments are capped at $40,000 per individual or entity and do not count against the 2014 Farm Bill payment limitations.
Sign-up for the program will begin June 20 and run through Aug. 5, 2016 at the producer’s local FSA office. Payments will be processed as applications are received, and are expected to begin in July.
South Carolina ranks 11th nationally in cotton production, with cotton generating an annual revenue of $213 million. For more information about the CGCS program, visit fsa.usda.gov/cgcs or contact a local FSA office.
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