Price Loss Coverage

The Department of Agriculture Farm Service Agency administers the Price Loss Coverage program (CFDA 10.112), which provides direct income-support payments to eligible producers when commodity prices fall below statutory reference prices, with payments issued beginning October 1 following the end of the marketing year for covered commodities.

PLC is a formula-driven income-support mechanism rather than a competitive grant program. The program provides payments to eligible producers on farms enrolled for the 2019 through 2024 crop years. Payments are triggered when the effective price for a covered commodity—defined as the higher of the market year average price or the national average loan rate—falls below the effective reference price for that commodity. The PLC yield for covered commodities equals the counter-cyclical payment yield established as of September 13, 2013, unless updated. There is no limit on the time permitted to spend awarded funds. Recipients must maintain financial books and records for at least three years following the end of the calendar year in which assistance was provided. Approval of payments depends on farmer compliance with conservation and wetland provisions.

The source does not report recent grant awards, award frequency, combined federal dollars obligated, or typical award magnitudes, as PLC operates as a statutory entitlement program rather than a discretionary grant portfolio with individualized awards. Award data and portfolio statistics are not available in the source material.

A single grant opportunity related to FSA programs—separate from PLC itself—appears in the source: USDA-FSA-MULTI-21-NOFO0001104, "Outreach Education and Technical Assistance for Farm Service Agency Programs, Functions and Activities," posted April 5, 2021 with a May 5, 2021 due date. This opportunity funded Cooperative Agreements with higher-education institutions, tribal governments, tribal organizations, and 501(c)(3) nonprofits to provide targeted outreach and technical assistance to socially disadvantaged farmers and ranchers on FSA programs. This opportunity is not currently open.

PLC itself is not a solicitation-based grant program and does not accept competitive applications. Eligibility and payment mechanics are determined by statute and farm enrollment status, not by application or proposal review.