2022 the third-costliest weather disaster year on record
In the agriculture sector, new analysis by
The impact to America's farms and ranches demonstrates the importance of farm bill programs to help rural communities recover from weather-related disasters.
The Market Intel, part of AFBF's series on disaster losses, analyzes and summarizes total crop loss estimations across all major weather events for 2022, including hurricanes Fiona and Ian, the
The Market Intel also analyzes the coverage — and coverage gaps — provided by existing risk management programs, such as crop insurance, as well as ad-hoc disaster assistance like the
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"It's not hard to see why programs like crop insurance and disaster coverage are vital to the livelihoods of farmers and ranchers, and the stability of our country as a whole," said AFBF President Zippy Duvall.
"Even a brief analysis of estimates from last year's disaster losses proves why a strong farm safety net is a necessity. When you have nature as a business partner, you need a strong support system to help put the pieces back together when the unexpected happens."
The full extent of damage across agriculture is likely far higher as crop loss estimates do not include infrastructure damage, livestock losses, horticulture crop losses or timber losses associated with the weather events.
Read the full Market Intel at https://tinyurl.com/2p8nzv95.
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