o Wheat - $116 million, protecting 379,815 acres. ⢠The private crop-hail insurance product provided an additional $76
Agriculture Is Vital to Michigan’s Economy
In 2014 Michigan’s agriculture industry contributed more than $9.4 billion to the state’s economy.
Michigan has more than 52,000 farms and 9.95 million acres of farmland. More than 91 percent of farms are less than 500 acres, with an average farm size of 191 acres. o 47,600 farms have less than 500 acres. o 2,574 farms have between 500-1000 acres. o 2,020 farms have more than 1000 acres.
Michigan farmers grow and raise more than 300 varieties of commodities and 98 percent of farms within the state are family owned. Michigan is number one in the nation for cucumber (for pickling) production. Crop Insurance Is Vital to Michigan’s Agricultural Sector
Crop insurance protected more than $1.9 billion of liability on growing crops in Michigan in 2015. A little more than 4.3 million acres were insured and more than $70 million was paid to farmers in indemnities for production and/or revenue losses.
The top commodities (liability) for crop insurance protection in 2015 were: o Corn - $776 million, protecting 1.7 million acres. o Soybeans - $489 million, protecting 1.6 million acres. o Wheat - $116 million, protecting 379,815 acres.
The private crop-hail insurance product provided an additional $760 million in protection on growing crops in Michigan.
National Crop Insurance Services www.CropInsuranceInAmerica.org 913-685-2767
