• Korean Journal of Organic Agriculture
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• v.24 no.3
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• pp.369-383
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• 2016

Crop yield insurance program in Korea has rapidly grown not only in quantity but in quality for 15 years since it was introduced in 2001. Despite growth of Crop insurance, performance evaluation for crop yield insurance has not fully been evaluated at the farm, consumer and national level. The purpose of this study is to conduct the performance evaluation for crop yield insurance through estimating the effects of farm revenue stabilization and social welfare increase with three popular insurance items: apple, pear and sweet persimmon. Based on the analysis of social welfare effect, cost-benefit analysis of operating crop yield insurance was conducted at the national level. We found that crop yield insurance stabilizes farm revenue based on the estimated four risk indicators: Coefficient of Variation, Value at Risk, Certainty Equivalence, and Risk Premium. The result of cost-benefit analysis shows that crop yield insurance increases social net benefit by 44.1 billion won for the three items. As a result, crop yield insurance program has contributed remarkably on social welfare as well as farm management and its role will be more important in the future.

• Agribusiness and Information Management
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• v.11 no.1
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• pp.27-39
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• 2019

Agricultural risks are exacerbated by a variety of factors ranging from climatevariability and change, frequent natural disasters, uncertainties in yields and prices, weakrural infrastructure, imperfect markets and lack of financial services including limited spanand design of risk mitigation instruments such as credit and insurance. Indian agriculture has little more than half (53%) of its area still rainfed and this makes it highly sensitive to vagaries of climate causing unstable output. Besides adverse climatic factors, there are man-made disasters such as fire, sale of spurious seeds, adulteration of pesticides and fertilizers etc., and all these severely affect farmers through loss in production and farm income, and are beyond the control of farmers. Hence, crop insurance' is considered to be the promising tool to insulate the farmers from risks faced by them and to sustain them in the agri-business. This paper critically evaluates the performance of recent crop insurance scheme viz., Pradhan Mantri Fasal Bhima Yojana (PMFBY) and its comparative performance with earlier agricultural insurance schemes implemented in the country. It is heartening that, the comparative performance of PMFBY with earlier schemes revealed that, the Government has definitely taken a leap forward in covering more number of farmers and bringing more area under crop insurance with the execution of this new scheme and on this front, it deserves the appreciation in fulfilling the objective for bringing more number of farmers under insurance cover. The use of mobile based technology, reduced number of Crop Cutting Experiments (CCEs) and smart CCEs, digitization of land record and linking them to farmers' account for faster assessment/settlement of claims are some of the steps that contributed for effective implementation of this new crop insurance scheme. However, inadequate claim payments, errors in loss/yield assessment, delayed claim payment, no direct linkage between insurance companies and farmers are the major shortcomings of this scheme. This calls for revamping the crop insurance program in India from time to time in tune with the dynamic changes in climatic factors on one hand and to provide a safety-net for farmers to mitigate losses arising from climatic shocks on the other. The future research avenues include: insuring the revenue of the farmer (Price × Yield) as in USA and more and more tenant farmers should be brought under insurance by doling out discounts for group coverage of farmers like in Philippines where 20 per cent discount in premium is given for a group of 5-10 farmers, 30 per cent for a group of 10-20 and 40 per cent for a group of >20 farmers.

• KOREAN JOURNAL OF CROP SCIENCE
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• v.53 no.4
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• pp.388-393
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• 2008

Earth observation satellite imagery having medium-resolution can provide the useful information very rapidly and cheaply. The objective of this study was to assess the feasibility for monitoring rice growth and yield using medium resolution satellite imagery at Seosan AB reclaimed area, Chung-nam province. Using the LANDSAT imagery at booting stage ($29^{th}$ July 2004), $NDVI_R$ had the most significant linear relationships with rice yield of Seosan AB reclaimed area with the correlation coefficient (r) as 0.68. Therefore, this relationship was established as rice yield equation as function of $NDVI_R$, where excluding the 10 small area having low number of pixel, the determination coefficient ($R^2$) of the linear regression between NDVIred and milled rice yield was improved to 0.66. In addition, raster masking method, which was easier and faster even if a little unaccurate than preexisting method, was established for extracting information paddy field zone. Adaptability of rice yield equation function of $NDVI_R$ on year and region was investigated using rice yield and $NDVI_R$ values, which were extracted with raster masking method, from 7 counties or cities, Kyeong-ki province in 2005. Relationship between observed and calculated rice yield showed 1:1 line indicating that the adaptability was admitted.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.621-628
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• 2020

The study investigates a promising sustainable crop-insurance risk mitigation plan, namely, Group Risk Income Protection (GRIP) insurance, for the cultivation of Para rubber, a crop for which Southern Thailand constitutes over half of the national harvested area, but which recently experienced a shift in prices and yields, substantially affecting farmers. The research takes as its starting point historical data covering the 2001-2018 period for this crop's cultivation in three of Thailand's Andaman South Coast provinces - Trang, Krabi, and Phangnga. The results indicate that, from a relatively high base in 2001, Trang's yields dropped sharply before a more gradual decline (apparently still ongoing), whereas those for Krabi and Phangnga followed a smoother downward trajectory throughout the period. Meanwhile, prices everywhere rose steadily before falling from 2011 onwards - a decrease that shows no signs of abating. The yield/price relationship was negative for one province and slightly positive for the other provinces. Furthermore, all provinces' Para rubber income initially grew continually but fell after 2011, with this trend seemingly persisting to this day. The paper's findings suggest that, after early moves to entrench GRIP insurance, it looks set to become a feasible option for Para rubber, making policy agreement details an interesting subject for subsequent investigations.

• Korean Journal of Organic Agriculture
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• v.28 no.4
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• pp.459-475
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• 2020

This study analyzes weather derivatives as an alternative risk management tool to stabilize farm revenue to complement the existing crop insurance program which suffers from asymmetric information problems such as adverse selection, moral hazard, and verifiability. We estimated apple yield functions to observe the relationship between yields and weather indices such as temperature and precipitation. Based on the estimated yield functions we designed weather futures and options products underlying temperature and precipitation, and calculated the prices of futures and options by two different approaches, historical distribution and Monte Carlo simulation. We found that weather futures and options stabilize farm revenue based on the estimated four risk indicators: Coefficient of Variation, Value at Risk, Certainty Equivalence, and Risk Premium. As a result, weather derivatives could be considered as a potential farm risk management tool through studying more in legal and institutional strategies and developing various derivatives products.

• Journal of Sericultural and Entomological Science
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• v.51 no.1
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• pp.48-55
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• 2013

Though mulberry fruit is known to a by-product that was produced from mulberry tree after harvesting leaves for silkworm rearing, as a yield and consumption of mulberry fruit was increased, it has been fixing to a new income crop. But, a stable production of mulberry was issued on damage by the weather disaster, so it is requires that agricultural disaster insurance import. So, in this study as a basic research for a importation of agricultural disaster insurance, the cultivation of mulberry for produce mulberry fruit, the shape of tree, the number of a bearing fruit from each cultivar, the occurrence of mulberry fruit sclerotic disease, and a yield and the market price of mulberry fruits were investigated and that results obtained were as follows; The number of mulberry tree each 10a was abundant in Buan and Yangpyung region that cultivated a suitable cultivar on low cut shape, however, a large cultivated Gochang region was little. The number of a bearing fruit each the longest branch was abundant in the order of Gwasang No. 2, Suwonppong, Iksuppong, and Cheongilppong. Yield of mulberry fruit each 10a was abundant in the order of Cheongilppong, the second number of Gwasang No. 2, Suwonppong, Iksuppong, and yield of mulberry fruit each the age of three mulberry tree was abundant in older tree, however, the second number of Gwasang No. 2 was the opposite. Sale price of the mulberry fruit was highest in Gyeonggi Yangpyeong, and Jeonbuk Gochang was the opposite.

• Korean Journal of Weed Science
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• v.31 no.4
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• pp.360-367
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• 2011

The use of green manure crop is one of the methods for alternative of chemical fertilizer as well as maintain of soil sustainability, therefore we evaluated the effect of green manure crops on rice growth and weed occurrence in rice-green manure crop double cropping system. The treatments consisted of incorporation of hairy vetch, barley or combined hairy vetch and barley without any agrochemical or fertilizer. In hand weeding, rice yield in hairy vetch only or hairy vetch and barley incorporated fields was attained by 90% and 93% of the conventional practice, respectively, while the value in barley incorporated fields was just 79%. Although the rice yields were lower than the hand weed control, similar trends in non-weed control were observed among all treatments. At maximum tillering stage, occurred weeds in hairy vetch, barley or hairy vetch and barley incorporated fields were five, five and two species, respectively, while those in conventional practice were six species. Also, the dry weight of weeds in hairy vetch and barley incorporated fields was decreased by 33% and 53% compared to it of conventional practice, while the value in hairy vetch and barley incorporated field was increased by 34%. Among all treatments, although occurrence density of Echinochloa crus-galli was lower than another weed species, the dry weight of it significantly increased. These results suggested that although continuous incorporation of proper amount of legume green manure crops was possible to productivity insurance of crop, but to attain it was essential to the effective management of weeds.

• Journal of Climate Change Research
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• v.4 no.4
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• pp.317-330
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• 2013

The yield of rice production is affected severely by abnormal weather events, such as flood, drought, high temperature etc. The objective of this paper is to assess impacts of abnormal weather events on rice production, using a panel model which analyzes both cross-section data and ti- me series data. Abnormal weather is defined as the weather event which goes beyond the range of ${\pm}2{\sigma}$ from the average of a weather factor. The result of an analysis on impacts of high temperature on rice production showed that the yield of rice was decreased 5.8% to 16.3% under the conditions of extremely high temperature, and it was decreased 8.8 to 20.8% under the conditions of both extremely high and heavy rain. Adaptation strategies, development of new varieties enduring high temperature and heavy rain, adaptation of crop insurance, modernization of irrigation facilities are needed to minimize the impacts of abnormal weather on rice production, and to stabilize farmers' income.

• Journal of Sericultural and Entomological Science
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• v.53 no.1
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• pp.19-28
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• 2015

Though mulberry fruit is known to a by-product that was produced from mulberry tree after harvesting leaves for silkworm rearing, as a yield and consumption of mulberry fruit was increased, it has been fixing to a new income crop. But, a stable production of mulberry was issued on damage by the weather disaster, so it is requires that agricultural disaster insurance import. So, in this study as a basic research for a importation of agricultural disaster insurance, the cultivation of mulberry for the production of mulberry fruits, the shape of tree, the number of a bearing fruit from each cultivar, the occurrence of mulberry fruit sclerotic disease, and a yield and the market price of mulberry fruits were investigated and that results obtained were as follows; The number of mulberry tree each 10a was abundant in Buan and Jeongeup region that cultivated a suitable cultivar on low cut shape, however, a large cultivated Gochang region was little. The number of a bearing fruit per 1m on the branch was highest in the variety of Cheongilppong at Gochang. Yield of mulberry fruits each 10a was Cheongilppong at Gochang, followed by Iksuppong at Sangju. Average sale price of the mulberry fruits was high in the order of Gwasang No. 2, Suwonppong, Iksuppong, and Cheongilppong.