The Biden administration may have to open the Conservation Reserve Program (CRP) to cropping this year because of grain shortages that could result from the Russian invasion of Ukraine. “I am convinced it is going to be the biggest supply shock to global grain markets in my lifetime,” University of Illinois economist Scott Irwin says in tweets. He believes the world “desperately needs additional acres for grain production in 2022… The only policy lever that I can think of in the hands of the U.S. gov’t is to open up the Conservation Reserve Program for cropping on a one-year emergency basis.” U.S. government and congressional sources give the suggestion low odds of being acted on, especially at this juncture. Said one observer, “Let market prices determine plantings rather than thinking the government can fix everything.”
Univ. of Illinois Economist Thinks CRP Should be Tapped for More Plantings
The Biden administration may have to open the Conservation Reserve Program (CRP) to cropping this year because of grain shortages that could result from the Russian invasion of Ukraine.
(AgWeb)
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