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