Homepage  Homepage     Search on site  Search on site     To write the letter  To write the letter     Site map  Site map
Agro Perspectiva
We are on: 
   
 


Home > News

Shellfish Crop Insurance Program Offers Oyster Producers Needed Protection from Environmental Challenges and More

05.04.2024 10:04 "Agro Perspectiva" (Kyiv) — The new Shellfish Pilot Crop Insurance Program, offered through the USDA’s Risk Management Agency (RMA), offers you, as an oyster producer, needed protection from environmental challenges and it also allows you to insure for a higher price based on your personal sales records. You are now eligible for protection against losses due to named storms, excessive heat during a low tide event, freeze during a low tide event, or low salinity due to excessive rainfall.

After the 2018 Farm Bill, shellfish producers expressed a strong desire for a crop insurance program tailored to their operations and needs, rather than modifying Whole Farm Revenue Protection options. So, in early 2020, we began hosting listening sessions with these producers, which led to the creation of RMA’s Shellfish Development Team and a contract to develop a pilot program that RMA rolled out in a limited area for the 2024 crop year.

Person in boat holding basket full of oysters

Oyster harvesting on the Gulf Coast — Panacea, FL, December 2022

Not only RMA, but the entire USDA, has improved its risk management options for shellfish producers. The new shellfish program leverages existing producer records, reducing record-keeping burdens. It offers personalized protection based on a producer’s oyster survival rates and prices. For some producers, relying on a county average price just doesn’t cut it.

RMA’s Shellfish Development Team, which included Regional Offices representing coastal areas and members from Product Management, represents teamwork at its finest. Creating a new shellfish program with limited historical data availability was no small task!

Four people standing in front of oyster banners

Members of RMA’s Shellfish Development TeamMatt Wilkin, Austin «Brook» Stuart, Falan Goff, and Chris RutlandOyster South Symposium, New Orleans, LA, February 29, 2024

There were a lot of challenges. Overall, the product is much different due to the diverse production methods and growth cycles of the crop. Accounting for these differences made it challenging to develop a product that would be actuarially sound while not making the program too burdensome to producers.

This new shellfish program is incredibly important for aquaculture producers who are historically underserved by USDA programs. Additionally, with the global population projected to reach over 9 billion by 2050, there will be enormous demand for seafood products and a greater need for risk management options.

As many you know, farmed oysters are a growing industry and one of the most sustainable seafoods available. But oyster producers face production risks like any other farmers and RMA is uniquely positioned to help them manage these risks.

This program allows producers who typically have not participated in government programs to have a risk management tool for a very unique crop. During our outreach efforts, there has been a lot of interest from other aquaculture sectors to be added to this program.

{Erson examining oyster catcher baskets

USDA’s Shellfish Crop Insurance Program offers needed protection from environmental challenges you face and allows you to insure for a higher price based on personal sales records.

Of course, improving existing programs and expanding the commodities that Federal crop insurance covers is an ongoing effort. We are working with the FCIC Board of Directors to improve the shellfish program for 2025 and I’m hoping it can expand to other underwater farmed fish species in the future!

However, shellfish are part of a much bigger picture at RMA. We’re working every day to support the largest permanent Farm Safety Net program in the world. There were roughly $30 billion in Federal crop insurance liabilities nationwide about 25 years ago-today that figure is north of $200 billion.

A key factor behind that enormous growth in a quarter century is program expansion. When Federal crop insurance first became available 85 years ago, only wheat was covered. Today, nearly 600 commodities are insured. One sector of agriculture that has seen particular growth in coverage over the past few decades is aquaculture.

Source: www.farmers.gov

By Marcia Bunger, Administrator, USDA’s Risk Management Agency

Agro Perspectiva

< Croatian horseradish root ‘Ludbreški hren' added to register of Protected Designations of Origin All news for
05.04.2024
FAO Food Price Index rises in March >

30.09.2024  
17:27 List of agricultural machinery with cost compensation expanded to 11,300 items
29.09.2024  
20:21 1 in 11 people worldwide faced hunger in 2023, 1 in 5 in Africa If current trends continue, about 582 million people will be chronically undernourished in 2030, half of them in Africa
17:13 EU agri-food surplus increased in the first half of 2024
27.09.2024  
09:02 BASF presents new corporate strategy: BASF is setting a new direction for portfolio steering, capital allocation and performance culture
26.09.2024  
10:25 BASF sets new direction with corporate strategy and maintains high level of shareholder distributions
21.09.2024  
18:30 Three new sites recognized as Globally Important Agricultural Heritage Systems (GIAHS)
17.09.2024  
09:52 Cargill and Ducks Unlimited Working Together to Restore Watersheds Across North America
08:44 FAO calls for G20 cooperation as hunger targets continue to elude
06:40 FAO sees open trade as a cornerstone of global food security
13.09.2024  
07:08 U.S. Soybean Meal Hits 10‐Year High for Export Sales
12.09.2024  
21:26 U.S. Corn Exports Buoyed by Large Supplies
11.09.2024  
04:30 Global cereal production 2024 forecast on par with 2023 output, cereal trade likely to contract
06.09.2024  
11:35 FAO Food Price Index down marginally in August: lower sugar, meat and cereal quotations offset higher dairy and vegetable oil prices
10:34 Cargill acquires two US feed mills, strengthens production and distribution capabilities to grow with customers
05.09.2024  
09:23 PM: Plan to develop small generation facilities to reduce vulnerability to terrorism
30.08.2024  
05:03 Taras Vysotskyi discusses agricultural cooperation with Hungarian counterpart István Nagy
19.08.2024  
12:00 OTP BANK RECEIVED A $2.76 MILLION GRANT FROM USAID INVESTMENT FOR BUSINESS RESILIENCE ACTIVITY FOR CONCESSIONAL LENDING TO MICRO, SMALL, AND MEDIUM-SIZED ENTERPRISES
16.08.2024  
17:10 Cargill and Goanna Ag Pilot Irrigation Efficiency Technology on Mississippi Delta Cotton Fields
12.08.2024  
20:04 Ukraine Soybean Exports Forecast at Record in 2024/25
19:48 Domestic Demand and Trade Restrictions Reduce India Grain Exports
11.08.2024  
09:15 USAID Announces $3.9 billion in Direct Budget Support to the Government of Ukraine
09.08.2024  
17:41 USAID Announces $3.9 billion in Direct Budget Support to the Government of Ukraine
07.08.2024  
08:19 Turkey’s Mandarin Production and Exports to Rebound
26.07.2024  
09:28 Ongoing Economic Crisis in Argentina Impacts Dairy
15.07.2024  
10:28 Decline of China Pork Imports Continues in 2024
08:20 Lower Prices Propel Mexico 2023/24 Soybean Meal Imports
13.07.2024  
10:15 China Imports of Major Feed Grains at Record for Oct-May period
12.07.2024  
01:08 Climate risks projected to affect fish biomass around the world's ocean, FAO report says
06.07.2024  
10:15 Global cereal production 2024 forecast scaled up and now set to exceed the 2023 level
10:01 FAO Food Price Index stable in June
03.07.2024  
12:31 World pear production for MY 2023/24 is projected up more than 275,000 tons to 25.2 million
12:23 U.S. wheat exports are forecast to rebound by more than a million tons in the 2024/25 marketing year
01.07.2024  
08:58 World apple production for MY 2023/24 is forecast to rise more than 700,000 tons to 83.7 million
08:39 World coffee production for 2024/25 is forecast to rebound 7.1 million bags
25.06.2024  
17:57 Central, Eastern and South-Eastern European banks report strengthening loan demand and improving profitability
17:05 Global Environment Facility approves $70 million to support FAO projects in 28 countries
24.06.2024  
04:15 Emergency brake triggered for oat imports from Ukraine
23.06.2024  
09:00 Colombia Production: Two Periods of Sharp Decline
19.06.2024  
15:35 World pear production for MY 2023/24 is projected up more than 275,000 tons to 25.2 million
10:35 India Apple Imports Forecast at a Record High
12.06.2024  
09:21 FAO Food Price Index slightly up in May: higher cereal and dairy prices offset easing sugar and vegetable oil quotations
03.06.2024  
14:04 Commission clarifies support for farmers in case of exceptional weather events
13:33 Digitalization: it is time to bridge the gap between urban and rural areas
22.05.2024  
18:25 Two years of Solidarity Lanes have brought the EU, Ukraine and Moldova closer together
21.05.2024  
08:10 Seven additional private sector leaders announce support for Antimicrobial Use Stewardship Principles in poultry, now includes over 40% of global poultry meat production
13.05.2024  
23:32 EU extends trade support to Ukraine for one more year
04:36 European Union corn is forecast at 18.0 million tons
11.05.2024  
18:55 2024/25 Grain Consumption Expands while Trade Moderates
18:47 Oilseeds Stocks Forecast to Reach Record Highs in 2024/25
06.05.2024  
09:17 The International Year of the Woman Farmer in 2026 Approved by the UN General Assembly, it will increase awareness of the crucial role women farmers play in agrifood systems

Also available: 


NewsNews - News - News - News - News - News
BriefWeekly Reports - Free article
SubscriptionTariff - News&Reports
AdvertisingMagazine - Site
ConferencesForum AGRO-2013 - DAIRY WORLD-2008 - FERTILIZERS-2010
Statistics
For our clientsAgroNewsDaily - Ukrainian Grain&Oilseed Market - Fertilizers - Milk Monthly - Milk Weekly
About usAbout project - Contact
2002 -2024 © Agrarika, ltd.
tel.: +380 67 4473802; +380 67 5964652
e-mail: client@agroperspectiva.com