Cotton storage payments are set for the 2026 through 2031 crop years
What the document says“Effective for each of the 2026 through 2031 crop years, the Secretary shall make cotton storage payments for upland cotton and extra long staple cotton available in the same manner as the Secretary provided storage payments for the 2006 crop of upland cotton”
The section adds a new paragraph (2) to section 1204(g) of the Agricultural Act of 2014 (7 U.S.C. 9034(g)) requiring cotton storage payments for the 2026 through 2031 crop years, in the same manner as for the 2006 crop of upland cotton, at a rate equal to the lesser of the submitted storage charge for the current marketing year and a rate of $4.90 for storage in California or Arizona or $3.00 in any other State. It also labels the existing rule as crop years 2014 through 2025 and strikes 2023, inserting 2025.
What the document actually says“Effective for each of the 2026 through 2031 crop years, the Secretary shall make cotton storage payments for upland cotton and extra long staple cotton available in the same manner as the Secretary provided storage payments for the 2006 crop of upland cotton”
For the 2026 to 2031 crop years the Secretary must pay cotton storage costs. It is done the way it was done for the 2006 crop.
The rate is the lower of two figures. One is the charge the grower puts in. The other is $4.90 in California or Arizona and $3.00 elsewhere.
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