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Drought Resources and What's New with Organic Crop Insurance?

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Drought Resources and What's New with Organic Crop Insurance? Drought Resources and What’s New with Organic Crop Insurance? 2013 Illinois Specialty Crops, Agritourism, and Organic Conference Springfield, Illinois January 11, 2013 Sharon Hestvik, RMA National Organic Liaison Topics • Overview - Risk Management Agency (RMA) • Drought Resources • What’s New with Organics • Other RMA Partnerships USDA Risk Management Agency • Who are we? • Our Mission: To promote, support, and regulate sound risk management solutions to preserve and strengthen the economic stability of America’s agricultural producers. According to USDA Secretary of Agriculture.. • A safety net must provide assistance to producers quickly, • Must reflect the diversity of American agriculture – and • Must work for farmers of all types and sizes. Risk Management Agency (RMA) Federal Crop Insurance • Provides a Safety Net for producers, we cover losses due to drought and .. Risk Management Agency Federal Crop Insurance • Adverse weather conditions –Floods; Fire; Failure of the irrigation water supply; • Insects; Plant disease; Volcanic eruption; wildlife and Earthquakes! • All specified causes of loss must be due to a naturally occurring event. Risk Management Tool • Crop insurance is an important risk management tool for All farmers and ranchers. • More than 80 percent of the acres of major field crops planted in the United States are covered by Federal crop insurance, which helps to mitigate yield or revenue losses for insured farmers. Where Are We At? • In 2012, over 279 million acres were insured with a liability of over $116 billion and as of 12/31/12 - RMA has paid out over $9.6 billion for losses due to natural disasters – such as Drought. • In 2011, we paid out over $10.8 billion to farmers for losses from natural disasters, such as flooding. 2012 DROUGHT • Almost 80 percent of agricultural land experienced drought in 2012--which made the 2012 drought more extensive than any drought since the 1950s and unseen since the Dust Bowl. • More than half of U.S. counties had been designated as disaster areas by USDA in 2012, mainly due to drought. Drought Tools: RMA Website USDA Drought Assistance Web www.usda.gov USDA Drought Programs and Assistance • Drought Monitor, other drought resources: www.drought.gov • Find your local Farm Service Agency (FSA): www.fsa.gov Emergency Disaster and Declaration Overview Factsheets, Disaster Designated Counties Non-Insured Disaster Assistance Program/Farm Service Agency: Credit Assistance: Loans, Disaster Factsheets-FSA • Farm and Food Impacts (Economic Research Service) www.ers.gov • Agricultural Weather and Drought Updates: http://blogs.usda.gov/tag/weather- update/ • Weekly Crop Progress and Condition Reports (National Ag Statistics Service -NASS) • www.nass.usda.gov • Crop Insurance and Assistance: www.rma.gov APPS for Smartphones Coming… • APPS for smartphones – Provides “one-click” access to the nearest USDA service centers and available drought programs; – county-level drought disaster designations and program eligibility; – information on Federal assistance available based on location and sector; types of loans or refinance options available with a handy repayment calculator and eligibility requirements; – drought maps; and localized weather outlooks. • Just a few ideas –Find out more on the USDA BLOG http://blogs.usda.gov/ What’s New with Organic Crop Insurance? Organic Crop Insurance • The Risk Management Agency (RMA) offers Organic Federal Crop Insurance for crops grown under the organic farming practice provided they meet standard terms and conditions. • Transition to Organic farming practices is also covered. • RMA provides policies for more than 100 crops. Organic Tools • RMA Website go to -- Organics www.rma.usda.gov/news/currentissues/organics/ • RMA's Loss Experience for Organic Crops: Mar 2012 Loss Experience Report Certified Organic Acreage Insured By Year Risk Management Agency (3/2012) Certified Organic Experience By Year - Liability 2004 – 2011 (3/2012, RMA) Top States - By Acreage Insured 2004 to 2011 Montana-479,855 acres North Dakota-354,491 acres Minnesota- 339,067 acres California-343,332 acres Colorado-205,084 acres – Illinois…..53,998 acres Top 6 Crops – Organic/Transition to Organic Acres Insured 2004-2011 Liability $-By Crop Organic/Transition to Organic 2004-2011 Organic Prices • Due to a 2008 Farm Bill requirement – RMA now offers “an additional price election that reflects actual prices received by organic producers.” • Since 2011, RMA has published separate organic prices for: Corn, Cotton, Processing Tomatoes, and Soybeans New -- Organic Prices for 2013 California • Avocados, • Stonefruit crops: – Fresh Freestone Peaches, – Fresh Nectarines, and – Plums. Price Data Requirements ☼ Credible ☼ Reliable ☼ Available on an annual basis ☼ Developed utilizing standard statistical methodology ☼ Amount or quantity sold associated with price ☼ Method of Sale 27 New Tool: National Agriculture Statistics Service (NASS) Data • NASS released the “2011 Certified Organic Production Survey” October, 2012. www.nass.usda.gov 2011 Certified Organic Production Survey • Data Collection: From December 2011 – April 2012, NASS conducted the survey nationwide targeting the entire population of certified organic producers both crops and livestock producers-known to USDA (via list of producers kept by NASS and Agricultural Marketing Service-National Organic Program). • 76% response rate 2011 USDA Certified Organic Production Survey • Intent of Survey is to provide RMA with additional data Price Data to help improve the crop insurance program for organic crops • In Particular: data was sought on apples and grapes since they are the largest “non-grain” organic crops in the U.S. and RMA’s insurance business; and • Data on Utilization and Method of Sale Certified Organic Farms 2011 Certified Organic Production Survey • 9,140 USDA certified organic farms Top States: California, 1,898 farms Wisconsin, 870 farms New York, 597 farms Washington, 493 farms Iowa, 467 farms Organic Acreage 2011 Certified Organic Production Survey • 3.6 million organic acres – 1.6 million pasture/rangeland – 2 million acres of cropland • 1.5 million acres harvested cropland Certified Organic Sales 2011 Certified Organic Production Survey • Fruits $494.8 million – Apples $122.2 million (total gross value of sales) – Fresh and processing apples - by variety • $121.3 million in sales - certified organic • $849,008 in sales - conventional – Grapes $160.6 million (total gross value of sales) – Fresh, wine, juice, raisins and other • $154 million in sales - certified organic • $6.4 million in sales - conventional NASS Survey: Marketing Outlets % of Sales • 81% Wholesale Markets • 13% Direct to Retail • 6% Consumer Direct Agriculture Fact of the Day Illinois -2011 • Consumer Direct Sales- – Farms: 7% of sales (28 farms) • Direct to Retail Sales – Farms: 2% of sales (12 farms) • Wholesale Market Sales – Farms: 91% of sales (103 farms) Source: 2011 Certified Organic Production Survey, USDA-NASS 2011 Certified Organic Production Survey found at www.nass.usda.gov Organic Price Elections And Crop Insurance Organic Prices and your Crop Insurance Policy • In 2012, RMA received inquiries. • How is the organic price election for corn and soybeans - which is used in the Yield and Revenue Protection Policies -- calculated? Organic Price Elections Chicago Board of Trade (CBOT) Sales Closing Date Exchange Year Price Contract Discovery Amount Conventional CORN March 15 CBOT 2012 Projected December February $5.68 Harvest December October $7.50 ORGANIC CORN 2012 Projected December February $7.99 Harvest December October $10.55 Pricing Methodology • Methodology for determining this factor is contained in the “Organic Corn, Soybeans and Cotton Pricing Methodology” posted at http://www.rma.usda.gov/pubs/2011/organic pricingmethodology.pdf Where are prices found on RMA Website? – For the Organic Prices and for all other prices - check out the Actuarial Information Browser located at www.rma.usda.gov – You can also contact a crop insurance agent for more information. Price Discovery Corn and Soybeans 42 Organic Prices Actuarial Information Browser All Crops 43 What does the price mean to my Policy? • Yield Protection Plan • Revenue Protection Plan Corn - Yield Protection • 100.0 bushels per acre APH yield • x .75 coverage level = 75 bushel guarantee* • minus 30.0 bushels per acre actually produced • = 45 bushels per acre loss • x $7.99 projected price (announced in February) • = $359 gross indemnity per acre* Corn - Revenue Protection • 75 bushels* (guarantee - see prior example) • x $7.99 projected price (announced in Feb) = • $599.25 revenue guarantee/acre • 30.0 bushels per acre actually produced (or 45 Bu loss) • 30 bu x $10.55 harvest price (announced in October) • = $316.50 revenue/acre • Loss would be $282.75 indemnity ($599.25 - $316.50) • $282.75 net indemnity/acre* • *Figures shown on a per acre basis, guarantees and losses paid are on a unit basis-. Revenue Protection – Harvest Price • 75 bushels guarantee • x $10.55 Harvest Price (since producer has the “option” to use higher of) = $791.25 revenue guarantee/acre • 30.0 bushels per acre actually produced (or 45 Bu loss) • 30 bu x $10.55 Harvest price = $316.50 revenue/acre • Loss would be ($791.25-$316.50) = • $474.75 net indemnity/acre* • *Figures shown on a per acre basis, guarantees and losses paid are on a unit basis-. Tips for Organic Producers • When you sign up for crop insurance with your Agent make sure to mention you are “certified organic” or “transitioning to
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