Crop Plant Warranty - Part Two

This is Tim Hammerich of the Ag Information Network with your Farm of the Future Report.

Yesterday we reported on the crop plan warrantees being offer by ag retailers thanks to some financial technology or fintech powered by Growers Edge. But how are these warranties used exactly and why are they beneficial? Chief Commercial Officer Todd Robran says it’s all about reducing risk for farmers to test new products and practices.

Robran… “ An example I'll give real quickly is a plant health offer that maybe includes a fungicide, a micronutrient, and an insecticide, all applied to soybeans at R1. That is typically how a crop plan warranty is put together; using those types of products. But then on the other hand, we have growers using and retailers and other partners using crop plan warranties to drive things like increased cover crop, reduce nitrogen. So all of the opportunities to integrate and bring regenerative agriculture can also be backed by a crop plant warranty. So it's certainly product-based, Tim. There's certainly some partners that include technology in it, but it's also some of these regenerative practices that can be backed by a warranty as well.”

Robran says these risk management tools become even more important with the struggling farm economy.