Specialty Crop Participation in Federal Risk Management Programs

Sharon Raszap Skorbiansky, Gregory Astill, Stephanie Rosch, Elizabeth Higgins, Jennifer Ifft and Bradley Rickard

No 329075, USDA Miscellaneous from United States Department of Agriculture

Abstract: The U.S. Department of Agriculture (USDA) offers various risk management products to farmers through the Federal Crop Insurance Program (FCIP), and for crops in counties where FCIP is not available, through the Noninsured Crop Disaster Assistance Program (NAP). All FCIP insurance products are actuarially sound (total premiums paid are calculated to equal or exceed total claims paid), requiring a substantial amount of data to price. Only some counties generate sufficient data to create products for specialty crops like fruits, vegetables, tree nuts, horticulture, and nursery crops. This study characterizes recent changes in FCIP and NAP use by specialty crop farmers, compares differences among conventional and organic farms, and investigates the reasons some farmers choose whether to participate in these programs. Specialty crop growers increased the value of their crops insured by FCIP products from about $12 billion in 2011 to about $21 billion in 2020 (not adjusted for inflation). In 2017, FCIP or NAP covered a significant portion of acreage for many crops.

Keywords: Agribusiness; Agricultural Finance; Crop Production/Industries; Environmental Economics and Policy; Farm Management; Industrial Organization; Production Economics; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 55
Date: 2022-09-20
New Economics Papers: this item is included in nep-agr and nep-env
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://ageconsearch.umn.edu/record/329075/files/eib-241.pdf (application/pdf)

Related works:
Journal Article: Specialty Crop Participation in Federal Risk Management Programs (2022)
Working Paper: Specialty Crop Participation in Federal Risk Management Programs (2022)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:usdami:329075

DOI: 10.22004/ag.econ.329075

Access Statistics for this paper

More papers in USDA Miscellaneous from United States Department of Agriculture
Bibliographic data for series maintained by AgEcon Search ().