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Incorporating buy‐up price loss coverage into the United States farm safety net

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  • Francis Tsiboe
  • Dylan Turner

Abstract

This study evaluates a proposed Price Loss Coverage (PLC) buy‐up coverage option to improve price protection for commodity producers. Using 2014–2023 USDA‐RMA data, it applies crop insurance principles to model the product and assess its impact. Results show that combining PLC buy‐up coverage with current farm‐based insurance policies reduces revenue variability by 23% compared to no risk management. While this approach offers better risk mitigation than existing programs, it comes with higher expected government costs per unit of reduced variability.

Suggested Citation

  • Francis Tsiboe & Dylan Turner, 2025. "Incorporating buy‐up price loss coverage into the United States farm safety net," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 47(5), pages 1869-1887, December.
    • Handle: RePEc:wly:apecpp:v:47:y:2025:i:5:p:1869-1887
    DOI: 10.1002/aepp.13536
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