Revenue Protection with Harvest Price Exclusion
RP HPE is similar to RP, however RP HPE coverage provides protection against loss of revenue caused by price decrease, low yields or a combination of both. Unlike RP, the revenue protection guarantee for RP HPE is based on the projected price only and it does not increase based on a harvest price. Crops covered under this plan include barley (includes malting type), canola/ rapeseed, corn, cotton, grain sorghum, rice, soybeans, sunflowers, and wheat.
The production to count x harvest price is less than the revenue protection guarantee x insured acres.
Projected Price and Harvest Price defined by CEPP
Harvest Price not to exceed Projected Price x 2.00 – (except for corn silage and rapeseed for which the harvest price = projected price)
Revenue Protection guarantee = APH approved yield x coverage level x greater of projected price or harvest price