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Demand for Crop Insurance by Organic Corn and Soybean Farmers in Three Major Producing States

Author

Listed:
  • Singerman, Ariel
  • Hart, Chad E.
  • Lence, Sergio H.

Abstract

A survey of organic grain and oilseed producers in Iowa, Minnesota and Wisconsin was conducted to collect information about their demographic characteristics, production and price risk management strategies, yields and losses, and crop insurance decisions. The data are analyzed using a discrete choice model to establish which variables influence organic producers’ decision of whether to purchase crop insurance and also which ones affect the insurance product choice when applicable. The study describes the risk profiles of organic producers, and analyzes whether significant variations exist between organic and conventional methods of production so as to quantitatively determine the differential production risk associated with organic production. This research may contribute to the design of an organic crop insurance policy in which organic producers would be charged according to their idiosyncratic production risks, rather than the arbitrary 5% blanket premium surcharge currently in use.

Suggested Citation

  • Singerman, Ariel & Hart, Chad E. & Lence, Sergio H., 2010. "Demand for Crop Insurance by Organic Corn and Soybean Farmers in Three Major Producing States," Staff General Research Papers Archive 31528, Iowa State University, Department of Economics.
  • Handle: RePEc:isu:genres:31528
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    File URL: http://www2.econ.iastate.edu/papers/p11528-2010-05-23.pdf
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    Cited by:

    1. Delbridge, Timothy A. & King, Robert P., 2016. "How Important is the T-Yield? An Analysis of Reforms to Organic Crop Insurance," Staff Papers 244732, University of Minnesota, Department of Applied Economics.
    2. Singerman, Ariel & Lence, Sergio H., 2010. "How Closely Related Are The Prices Of Organic And Conventional Corn?," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61151, Agricultural and Applied Economics Association.
    3. Singerman, Ariel & Hart, Chad E. & Lence, Sergio H., 2012. "Revenue Protection for Organic Producers: Too Much or Too Little?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 37(3), December.
    4. Singerman, Ariel & Lence, Sergio H. & Kimble-Evans, Amanda, 2010. "Organic Crop Prices, or 2x Conventional Ones?," Staff General Research Papers Archive 31544, Iowa State University, Department of Economics.
    5. Singerman, Ariel, 2011. "Price Analysis, Risk Assessment and Insurance for Organic Crops," ISU General Staff Papers 201101010800001065, Iowa State University, Department of Economics.

    More about this item

    JEL classification:

    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy

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