A study conducted by an agricultural economist with Kansas State University in Manhattan, Kan. found a 3.7 percent increase in the number of crop insurance policies taken out on the U.S. cotton crop in 2001. According to BridgeNews, economist Art Barnaby attributed the elevated numbers of policies to increases in federal subsidies via the Crop Insurance Reform Law. For higher levels of crop coverage there were significant increases in the number of policies purchased. Insurance for crop coverage of 65 percent or more increased about 21.5 percent in 2001, and crop revenues for the year rose 51.4 percent. Catastrophic insurance contracts decreased 16.3 percent.
Topics USA Agribusiness
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