Demand for federal crop insurance and access to credit for socially disadvantaged farmers and ranchers in the United States, February 21, 2024 1pm-2pm
Demand for federal crop insurance and access to credit for socially disadvantaged farmers and ranchers in the United States
Ron Rainey, Professor and Assistant Vice President, Univ of Arkansas
OCE Seminar Series
February 21, 2024
1pm-2pm, Room 104A Whitten Building, USDA
The seminar will also include Ron’s colleagues from the Agricultural Economics and Agribusiness, Professors Ryan Loy and Bruce Hrendsen
Abstract
This analysis will explore the demand for federal crop insurance and access to credit for socially disadvantaged farmers and ranchers (SDFR) populations. This work seeks to inform the public policy debate on crop insurance and credit access discussions using secondary data to determine demand and identify trends in crop insurance and credit markets with the goal to better serve producer groups in the SDFR population. Farm credit and crop insurance are intertwined as the producers’ ability to receive farm credit is likely to be affected by their access to federal crop insurance given that a farmer has lower revenue risk when insured. In essence, federal crop insurance helps to transfer some portion of the farm loan risk away from the bank, in principle allowing the credit system to charge the farmer lower interest rates. This analysis seeks to provide a foundation for future work using the recent release of the 2022 Census of Agriculture.
Microsoft Teams meeting
Join on your computer, mobile app or room device
Meeting ID: 262 036 509 733
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