USA - Insurance on crops boosts farms of all sizes

27.11.2015 107 views
Joe Kessie is the senior vice president and commercial south regional manager at Lake City Bank in Warsaw.  It is no secret that farm demographics demonstrate an alarming trend in American agriculture. The average age of the American farmer is rising while the number of beginning farmers is decreasing. These beginning farmers are typically younger than their more established counterparts with less access to credit and capital. I see this reality every day as a banker at one of the largest agricultural lending institutions in Indiana. In general, all farmers need access to credit to operate and manage a farm, but it is even more crucial for a young farmer because of the enormous startup costs. It is not an exaggeration to say that farmers borrow more in a single year to grow a crop than some Americans borrow in a lifetime. And, frankly, banks can be wary of lending to a young farmer just starting out because of the combination of a short credit history and the inherent riskiness of the business. The one factor in their favor is crop insurance. By purchasing a policy, young farmers enhance their ability to obtain financing because banks have the assurance they can make payments even during tough times. But opponents of farm policy in Washington are proposing legislation that, if enacted, would threaten the viability of this important risk management tool and make it harder for young, beginning farmers to survive. These farm policy critics would have you believe that barring producers with large operations from participating in crop insurance helps smaller farmers. Actually, it does the opposite. Pooling of risk is essential for any viable insurance program. Because every farmer of every size in every part of the country can purchase crop insurance, the risk pool is large and diverse, which makes crop insurance affordable for all farmers and minimizes the financial exposure of the bank, the farmer and the taxpayer. Similarly, car insurers want older, more experienced drivers in the same risk pool as those who are younger and potentially more accident-prone. Eliminating the more established farmers from the mix shrinks this pool and undermines the entire system, making it harder for smaller, beginning farmers to get insurance coverage and, subsequently, agricultural financing. Statistics already show us that farming is a hard life with fewer and fewer people willing to try it. Now is not the time to make starting a farm even more difficult by destroying the viability and affordability of crop insurance. Now is the time to protect the one thing beginning farmers and their bankers can count on. Source - http://www.journalgazette.net/
27.03.2024

Turkey - Climate change may affect grape cultivation

A recent study has highlighted the impact of the climate crisis on viticulture in Turkey, predicting that the expected rise in temperatures and reduced rainfall could shift the suitability of vineyard regions for grape production over the next three decades.

27.03.2024

Crop crisis reveals El Niño’s toll on Southern Africa

New findings from the El Niño-Southern Oscillation (Enso) reference group highlight the significant impact of the 2023/24 El Niño event on various aspects of climate and agriculture in Southern Africa.

27.03.2024

Philippines - Crop losses reach P80M as drought hits Negros Oriental

As the El Niño phenomenon worsens in Negros Oriental, damage to rice, corn, and other high-value crops has reached more than PHP80.4 million, the Department of Agriculture-Provincial Agriculture Technology Coordinating Office (DA-PATCO) said Tuesday.

27.03.2024

USA - Farmers say coverage has become unavailable or unaffordable as drought and floods increasingly threaten their crops

Farmers who grow fresh fruits and vegetables are often finding crop insurance prohibitively expensive — or even unavailable — as climate change escalates the likelihood of drought and floods capable of decimating harvests.

27.03.2024

India - Telangana Minister assures financial support for rain-affected farmers

Telangana Excise and Prohibition Minister Jupally Krishna Rao has assured the farmers that the government is committed to providing financial help to the cultivators whose crops were damaged due to unseasonal rains.

27.03.2024

Australia - Managing canola pests using beneficial insects, spiders and mites

Australian grain growers will benefit from improved pest management strategies with the commencement of two new research projects focusing on beneficial insects (beneficials) in canola.

27.03.2024

USA - Early blooms indicate strong fruit year if frost, freeze can be avoided

Warm temperatures in late February and early March have led fruit trees across Virginia to blossom early. Based on what growers are seeing, the number of blooms indicate at banner crop. However, there is a risk a portion of that crop could be wiped out by a freeze or frost.

27.03.2024

USA - As winters warm, Wisconsin fruit growers brace for the worst

On a cool, early spring morning in March, Liz Griffith stands among her apple trees, reaching to the very highest branches with a pole saw. Birds that have already returned north call to each other over the “snip snip” of shears, as Griffith and her staff prune through eight acres of apple trees on her orchard in Cottage Grove.

istanbul escort şişli escort tbilisi escort şişli escort şişli escort maslak escort istanbul escort beşiktaş escort taksim escort izmir escort ümraniye escort mecidiyeköy escort şişli escort taksim escort ümraniye escort kartal escort şirinevler escort maltepe escort istanbul escort ümraniye escort kadıköy escort vip escort mersin escort istanbul escorts ataköy escort avcılar escort beylikdüzü escort okmeydanı escort şişli escort tuzla escort işitme cihazı sex shop sex shop sex shop sex shop sex shop sex shop sex shop sex shop