FUNDING & PROJECTS - My Risk Library Entry

The Use of Grp/Grip for Coverage of Sorghum Silage in Texas, New Mexico, Oklahoma, and Kansas as a New Risk Management Tool for Silage Production
 
Award Amount: $10,000 
Regional Center: Southern Region Risk Management Education Center
Grant Program: 2006 Competitive Grant Program

Project Directors: Jeff Dahlberg and Chris Cogburn
Email: jeff@sorghumgrowers.com
National Sorghum Producers
Download Full Report .pdf  The Use of Grp/Grip for Coverage of Sorghum Silage in Texas, New Mexico, Oklahoma, and Kansas as a New Risk Management Tool for Silage Production

 

Summary Results Project Steps Materials Delivery Area Comments
PROJECT SUMMARY
Research at the Bushland Research Station has shown that sorghum silage can produce high quality silage while using half the water as corn. Sorghum has traditionally been under-served in terms of insurance programs and this has been especially true in silage coverage. Though RMA has started a Pilot Sorghum Silage Insurance program, this program only covers 39 counties in Western Kansas and Eastern Colorado. Group Risk Plan (GRP) and Group Risk Income Protection (GRIP) are new insurance products that offers insurance coverage to those producers in New Mexico, Oklahoma, and Texas who have thought of switching to sorghum silage, but were prevented from doing so because of the lack of silage insurance. This project is aimed at educating sorghum producers on the use of this new insurance option as a means to insure their silage through a broad spectrum of communications tools, including the Web, mass mailings, and mass communication.
NUMBER OF PARTICIPANTS: 3450
TOPICS COVERED
  • Insurance products
  • Product and enterprise diversification
  • Understanding of economic risks associated with new production technologies
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