Craven farmers hit hard by hurricanes, dry summer - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
October 19, 2019 Newswires
Share
Share
Post
Email

Craven farmers hit hard by hurricanes, dry summer

Sun Journal (New Bern, NC)

Oct. 19--Two straight years of damaging hurricanes combined with an unusually dry summer have left Craven County farmers with very little to show for their hard work.

After Hurricane Florence decimated field crops in the fall of 2018, farmers faced near-drought conditions this summer, when rainfall was between eight and 12 inches below normal most months. Then in September, Hurricane Dorian's punishing winds and heavy rains dealt a final blow in what has been a devastating year for many area growers.

According to Mike Carroll, Craven County agriculture extension agent, corn, cotton and tobacco crops have been especially hard hit by the unpredictable weather.

------

Get the news delivered to your inbox: Sign up for our daily newsletters

------

"About 70 percent of the corn had been harvested by the time Dorian hit, and it was horrible anyway, it was pathetic. Tobacco was probably the largest loss, it was roughly 60 percent of the crop. Cotton wasn't as bad, but probably 15 percent of it was lost," said Carroll.

On top of the storm damage, Carroll said farmers are also struggling with extremely low commodity prices, a consequence of overproduction.

"There's no indication that prices are going to go up. Every time we have a three to five percent increase in yield that's awesome, but that also means you have to find new markets," he explained. "Some of our developing countries are beginning to have 30 percent increases due to technology and better management."

Carroll said the tariffs on agricultural products put in place by President Donald Trump as part of his administration's trade war with China have also played a part in suppressing commodity prices.

"The tariffs are not helping, but then again because of world supply countries that we might not be trading with are just going to South America to get their needs met."

Carroll said very few Craven County farmers broke even financially over the last year.

"The only way that I had a budget to be profitable was if the farmer-owned the land himself," he commented. "If you paid anything more than about $40 an acre, you lost money, and that's getting worse rather than better. Landowners and farmers are both looking at this situation trying to negotiate some terms, but in some cases there's simply no profit there for the farmers to pay."

Many farmers have been forced to utilize equity in their equipment or sell portions of their farms, said Carroll.

"Any business can suffer a bad year but you can't suffer three or four in a row. And all of the three to five-year projections don't show anything any better."

According to Carroll, many farmers are looking to alternative crops, such as hemp, to help offset their losses.

"A lot of people are putting a lot of faith in hemp, but that's turning out to be quite a challenge in both production and sales and marketing. I still have hope that by the time we get some herbicides and fungicides labeled (for hemp) and then maybe get a processor that could use the fiber for linens or biodegradable plastic bottles, that's a possibility. But until we get there it's like the wild west, beware."

"There's a lot of (new) potential crops, but all of them are just beyond reach at the moment," he added.

Many farmers are turning to small-scale vegetable production and livestock or simply downsizing, he noted.

"I've had some farmers look at just reforestation. It takes decades and sometimes centuries to get land into excellent shape so I hate to lose it, but if that's the only option..."

While the state's overall agriculture economy remains strong, Carroll said farmers on the coast have suffered disproportionately.

"We literally had corn that had zero yield because it was so dry this summer," he said. "Part of that was a lack of rainfall and also because we warmed up earlier. We hit temperatures by early-May that we usually don't hit until mid-June."

Carroll said local growers will need to be "very prudent and very conservative" to remain profitable. He noted that farmers just recently began signing up for federal recovery money from Hurricane Florence.

"That's very frustrating to many farmers who have voiced their concerns over that," he said. "The farm program pays people well after-the-fact and that doesn't help."

Yield fluctuations in other parts of the world can have dramatic impacts on commodity prices, said Carroll.

"That's the nature of farming, I hate to say it but it is. There's a fine line between being short and having excess. Because we move food so quickly from the farm to the end-user that a 10 percent or 20 percent shortage somewhere can really alter prices very quickly."

Despite the admittedly gloomy outlook, Carroll said he is hopeful a combination of new technology and innovative marketing can help turn around the prospects for local farmers. He noted that a new cotton plant has been developed that has edible seeds, which could provide additional income for farmers. He said natural and organic food markets also hold promise for growers.

"We have a lot of growers associations and marketing groups and they're out there doing their jobs, trying to find new markets and new uses. They may have to change the way they do things, but if a farmer can hang in there it will get better."

___

(c)2019 the Sun Journal (New Bern, N.C.)

Visit the Sun Journal (New Bern, N.C.) at http://www.newbernsj.com

Distributed by Tribune Content Agency, LLC.

Older

Tax penalty returns next year. But health coverage will cost less in Stanislaus County

Newer

28 options for Ohio seniors seeking drug coverage in 2020

Advisor News

  • Demonstrating the value of life insurance to Gen Z
  • Poor money habits are a dealbreaker in a new relationship
  • DC plan sponsors see opportunity in alternatives
  • The American Dream: Redefined as financial stability
  • Partial annuitization: How advisors can help clients balance income, growth
More Advisor News

Annuity News

  • CA judge certifies class action in teachers’ lawsuit over in-plan annuity fees
  • Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
  • AM Best Managing Director Joins ‘Target Topics’ Podcast to Discuss State of Delegated Underwriting Authority Enterprises Market
  • KBRA Assigns Rating to TruSpire Retirement Insurance Company
  • Partial annuitization: How advisors can help clients balance income, growth
More Annuity News

Health/Employee Benefits News

  • Arkansas Explained: What's happening to the state's Medicaid expansion?
  • CT Congressman Wants Legal Support For Patients Denied Health Coverage
  • Coalition targets health insurance costs, calls for relief
  • Map: Where Obamacare Enrollment Is Falling
  • Data on CDC and FDA Detailed by Researchers at University of New Hampshire (Long Covid Among Adults With Pre-existing Disabilities: Evidence From the 2022 National Health Interview Survey): CDC and FDA
More Health/Employee Benefits News

Life Insurance News

  • Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
  • AM Best Upgrades Credit Ratings of Sagicor Financial Company Ltd. and Most of Its Subsidiaries
  • Trust, technology and the future of claims
  • New York Life Launches an Indemnity Benefit for its Asset Flex Long-Term Care Insurance Solution
  • AM Best Affirms Credit Ratings of DB Insurance Co., Ltd.
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Prosperity Life GroupSM Launches Prosperity PathWaySM Series, Bringing Greater Choice and Flexibility to Retirement Income Planning
  • Senior Market Sales® Fortifies Annuity Reach With Acquisition of Retirement Planning Firm Stratton & Company
  • RFP #T01625
  • Rockwood Programs Appoints Kerry Ladouceur as Vice President, Financial Lines
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet