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Perception of Innovative Crop Insurance in Australia

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  • Meuwissen, Miranda P.M.
  • Molnar, Tams A.

Abstract

Worldwide, extreme climate risks cause stakeholders in food supply chains to search for new risk management tools. In Australia, recently so‐called crop yield simulation insurance has been introduced based on an integrated agrometeorological simulation model. Current uptake is relatively low, possibly because Australian farmers perceive commodity price risk as more important than climate risk. Also, they perceive risk management tools such as water management and diversification as more important than buying crop insurance. Still, opportunities seem to exist for new insurance products, such as crop yield simulation insurance, as indicated by farmers’ interest into such products. Outcomes are useful in worldwide discussions on risk management opportunities in dryland agriculture.

Suggested Citation

  • Meuwissen, Miranda P.M. & Molnar, Tams A., 2010. "Perception of Innovative Crop Insurance in Australia," 2010 International European Forum, February 8-12, 2010, Innsbruck-Igls, Austria 100505, International European Forum on System Dynamics and Innovation in Food Networks.
    • Handle: RePEc:ags:iefi10:100505
    DOI: 10.22004/ag.econ.100505
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    Keywords

    Agribusiness; Farm Management; Food Consumption/Nutrition/Food Safety; Production Economics; Research Methods/ Statistical Methods;
    All these keywords.

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