FARMER RISK OVERVIEW
Although weather and climate change are most directly risks to production, the effects of adverse weather can be indirectly felt in any risk category.
Agriculture has many risks that can be broken into categories based on the source of the risk: production risk, marketing risk, financial risk, human risk, and legal risk. Although weather and climate change are most directly risks to production, the effects of adverse weather can be indirectly felt in any risk category. According to the article from Purdue University, Center for Food and Agricultural Business. (n,.d.,), production risk is the most important source of risk for most farmers in their sample. Climate risk is a term often discussed as there is increased risk due to changing weather variability and extremes. The capacity of a farm to be resilient to future climate risk, in addition to many other sources of risk, is important to their longevity and success. Examples include: changing cultivars, increasing farm or crop-rotation diversity, or planting longer season varieties.
Producer perceptions of agricultural risk in 2017. Center for Food and Agricultural Business. Source: https://agribusiness.purdue.edu/producer-perceptions-of-agricultural-risk-in-2017/
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