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FARM BUREAU ESTIMATES WEATHER CREATED $12.5 BILLION IN LOSSES TO AG IN 2021
American Farm Bureau Federation reports:

AFBF's Market Intel team has created a multi-part series highlighting agricultural losses incurred due to weather disasters and the associated disaster assistance programs meant to help mitigate their impacts.

Previous articles include: 2020 Disaster Estimations Reveal at Least $3.6 Billion in Uncovered Losses, 2020 Disasters Reveal Gaps in Ad Hoc Aid Legislation, Continuing Resolution Extends Disaster Coverage for Most 2020 and 2021 Losses and Kentucky Arkansas Tornadoes, Midwest Derecho Renew Calls for Timely Disaster Assistance. This Market Intel article updates and summarizes total crop loss estimations across weather events for 2021.

Hurricanes, wildfires and droughts - oh my! Not only was 2021 defined by lingering COVID-19 market effects and widespread supply chain woes, 20 weather and climate disasters, each with damages over a billion dollars, struck the U.S coast to coast last year.

The National Oceanic and Atmospheric Administration (NOAA) reported that 2021 was the third-costliest disaster year ever, with an estimated $145 billion in total economic losses, behind only 2017's $346 billion and 2005's $244 billion. With over 680 lives lost, these disasters will haunt impacted communities for years to come.



To view the complete report, click here.


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