Using Crop Models and Climate Forecasts to Aid in Peanut Crop Insurance Decisions
Crop insurance is one of the strategies producers can use to reduce risk of income loss due to climate variability. The best approach for reducing risks involves a combination of crop insurance with a pre-harvest marketing plan that includes strategies like hedging and forward contracting. A produc...
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| Format: | Article |
| Language: | English |
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The University of Florida George A. Smathers Libraries
2005-12-01
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| Series: | EDIS |
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| Online Access: | https://journals.flvc.org/edis/article/view/115192 |
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| author | Clyde W. Fraisse James L. Novak Axel Garcia y Garcia James W. Jones Charles M. Brown Gerrit Hoogenboom |
| author_facet | Clyde W. Fraisse James L. Novak Axel Garcia y Garcia James W. Jones Charles M. Brown Gerrit Hoogenboom |
| author_sort | Clyde W. Fraisse |
| collection | DOAJ |
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Crop insurance is one of the strategies producers can use to reduce risk of income loss due to climate variability. The best approach for reducing risks involves a combination of crop insurance with a pre-harvest marketing plan that includes strategies like hedging and forward contracting. A producer's choice among strategies is often complicated when both price and yield risk are present. However, about 69% of crop failures in the U.S. are because of either drought or excessive moisture (Ibarra and Hewitt, 1999). Are there options for a farmer to reduce these weather and climate-based risks, and can a grower take advantage of climate forecast information to decide about insurance levels? This paper explores this idea for peanuts and provides examples of how to use crop growth simulation models in combination with climate forecasts to decide about coverage levels. This document is CIR 1468, one of a series of the Agricultural and Biological Engineering Department, Florida Cooperative Extension Service, Institute of Food and Agricultural Sciences, University of Florida. First published July 2005. Reviewed: September 2008.
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| format | Article |
| id | doaj-art-2f65fa924916465e89a09bb02f345541 |
| institution | Kabale University |
| issn | 2576-0009 |
| language | English |
| publishDate | 2005-12-01 |
| publisher | The University of Florida George A. Smathers Libraries |
| record_format | Article |
| series | EDIS |
| spelling | doaj-art-2f65fa924916465e89a09bb02f3455412025-02-08T06:24:06ZengThe University of Florida George A. Smathers LibrariesEDIS2576-00092005-12-01200514Using Crop Models and Climate Forecasts to Aid in Peanut Crop Insurance DecisionsClyde W. Fraisse0https://orcid.org/0000-0001-9875-2187James L. Novak1Axel Garcia y Garcia2James W. Jones3Charles M. Brown4Gerrit Hoogenboom5University of FloridaAuburn UniversityUniversity of GeorgiaUniversity of FloridaUniversity of FloridaUniversity of Georgia Crop insurance is one of the strategies producers can use to reduce risk of income loss due to climate variability. The best approach for reducing risks involves a combination of crop insurance with a pre-harvest marketing plan that includes strategies like hedging and forward contracting. A producer's choice among strategies is often complicated when both price and yield risk are present. However, about 69% of crop failures in the U.S. are because of either drought or excessive moisture (Ibarra and Hewitt, 1999). Are there options for a farmer to reduce these weather and climate-based risks, and can a grower take advantage of climate forecast information to decide about insurance levels? This paper explores this idea for peanuts and provides examples of how to use crop growth simulation models in combination with climate forecasts to decide about coverage levels. This document is CIR 1468, one of a series of the Agricultural and Biological Engineering Department, Florida Cooperative Extension Service, Institute of Food and Agricultural Sciences, University of Florida. First published July 2005. Reviewed: September 2008. https://journals.flvc.org/edis/article/view/115192AE285 |
| spellingShingle | Clyde W. Fraisse James L. Novak Axel Garcia y Garcia James W. Jones Charles M. Brown Gerrit Hoogenboom Using Crop Models and Climate Forecasts to Aid in Peanut Crop Insurance Decisions EDIS AE285 |
| title | Using Crop Models and Climate Forecasts to Aid in Peanut Crop Insurance Decisions |
| title_full | Using Crop Models and Climate Forecasts to Aid in Peanut Crop Insurance Decisions |
| title_fullStr | Using Crop Models and Climate Forecasts to Aid in Peanut Crop Insurance Decisions |
| title_full_unstemmed | Using Crop Models and Climate Forecasts to Aid in Peanut Crop Insurance Decisions |
| title_short | Using Crop Models and Climate Forecasts to Aid in Peanut Crop Insurance Decisions |
| title_sort | using crop models and climate forecasts to aid in peanut crop insurance decisions |
| topic | AE285 |
| url | https://journals.flvc.org/edis/article/view/115192 |
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