INFORMATIONAL MEMORANDUM: PM–18-015
United States Department of Agriculture
Farm and Foreign Agricultural Services
Risk Management Agency
1400 Independence Avenue, SW
Stop 0801
Washington, DC 20250-0801
Date
To:
All Risk Management Agency Field Offices
All Other Interested Parties
From:
Subject:
-
Dry Pea and Dry Bean Crop Provisions and Revenue Endorsement
The approved 2018 CY projected prices shown below are for the Yield Protection, Revenue Protection, and Revenue Protection with Harvest Price Exclusion plans of insurance. The approved 2018 CY volatility factors shown below are for the Revenue Protection and Revenue Protection with Harvest Price Exclusion plans of insurance. The projected prices and volatility factors are applicable for the states, crops, and types indicated in the subsequent tables.
As authorized by the Special Provisions, RMA is providing additional projected prices for selected dry bean and dry pea types where the Dry Bean Revenue Endorsement (DBRE) and Dry Pea Revenue Endorsement (DPRE) do not offer coverage for price movement. Per the Special Provisions, the additional projected price shall be the basis for the premium determination and settlement of claims.
Projected Prices and Volatility Factors apply to Supplemental Coverage Option (SCO), as appropriate.
Projected Prices:
Dry Beans
Michigan
DBRE - Revenue Types
Type / Organic PracticeProjected Price
Volatility Factor
CAT
Price (Yield Protection Only)
($ / pound) ($ / pound) ($ / pound) Black (non-organic) $0.28 0.14 $0.1540 Black (organic) * $0.56 N/A $0.3080 Pea (Navy) (non-organic) $0.28 0.14 $0.1540 Pea (Navy) (organic) * $0.56 N/A $0.3080 Small Red (non-organic) $0.32 0.14 $0.1760 Small Red (organic) * $0.64 N/A $0.3520 Dry Beans
Minnesota and North Dakota
DBRE – Revenue Types
Type / Organic PracticeProjected Price
Volatility Factor
CAT
Price (Yield Protection Only)
($ / pound) ($ / pound) ($ / pound) Black (non-organic) $0.25 0.14 $0.1375 Black (organic) * $0.50 N/A $0.2750 Dark Red Kidney (non-organic) $0.37 0.14 $0.2035 Dark Red Kidney (organic )* $0.74 N/A $0.4070 Pea (Navy) (non-organic) $0.27 0.14 $0.1485 Pea (Navy) (organic) * $0.54 N/A $0.2970 Pinto (non-organic) $0.23 0.14 $0.1265 Pinto (organic) * $0.46 N/A $0.2530 *Premium organic projected prices are only being offered for the yield-based plans of insurance.
Dry Peas
Montana and North Dakota
DPRE – Revenue Types
Type / Organic Practice
Projected Price
Volatility Factor
CAT
Price (Yield Protection Only)
($ / pound) ($ / pound) ($ / pound) Spring Smooth Green/Yellow
(non-organic)$0.11 0.14 $0.0605 - Spr. Sm. Green/Yellow (organic) * $0.19 N/A $0.1045 Spring Lentils
(non-organic)$0.23 0.14 $0.1265 - Spring Lentils (organic) * $0.40 N/A $0.2200 Spring Small Kabuli Chickpeas
(non-organic)$0.26 0.14 $0.1430 - Spr. Sm. Kabuli Chick. (organic) * $0.46 N/A $0.2530 Spring Large Kabuli Chickpeas
(non-organic)$0.30 0.14 $0.1650 - Spr. Lrg. Kabuli Chick. (organic) * $0.53 N/A $0.2915 Dry Peas
Idaho and Washington
DPRE – Revenue Types
Type / Organic Practice
Projected Price
Volatility Factor
CAT
Price (Yield Protection Only)
($ / pound) ($ / pound) ($ / pound) Spring Smooth Green/Yellow
(non-organic)$0.15 0.14 $0.0825 - Spr. Sm. Green/Yellow (organic) * $0.26 N/A $0.1430 Spring Lentils
(non-organic)$0.28 0.14 $0.1540 - Spring Lentils (organic) * $0.49 N/A $0.2695 Spring Small Kabuli Chickpeas
(non-organic)$0.23 0.14 $0.1265 - Spr. Sm. Kabuli Chick. (organic) * $0.40 N/A $0.2200 Spring Large Kabuli Chickpeas
(non-organic)$0.29 0.14 $0.1595 - Spr. Lrg. Kabuli Chick. (organic) * $0.51 N/A $0.2805 * Premium organic projected prices are only being offered for the yield-based plans of insurance.
Additional Projected Prices:
Dry Beans
Michigan
DBRE – Non-Revenue Types
Type / Organic Practice
Additional Projected Price
11/30/17 Projected Price
Updated CAT
Price (Yield Protection Only)
($ / pound) ($ / pound) ($ / pound) Cranberry (non-organic) $0.37 $0.34 $0.2035 Cranberry (organic) $0.74 $0.68 $0.4070 Dark Red Kidney (non-organic) $0.37 $0.33 $0.2035 Dark Red Kidney (organic) $0.74 $0.66 $0.4070 Light Red Kidney (non-organic) $0.35 $0.34 $0.1925 Light Red Kidney (organic) $0.70 $0.68 $0.3850 Small White (non-organic) $0.28 $0.26 $0.1540 Small White (organic) $0.56 $0.52 $0.3080 White Kidney (non-organic) $0.37 $0.34 $0.2035 White Kidney (organic) $0.74 $0.68 $0.4070 Adzuki (non-organic) $0.32 $0.30 $0.1760 Adzuki (organic) $0.64 $0.60 $0.3520 Dry Beans
Minnesota and North Dakota
DBRE – Non-Revenue Types
Type / Organic Practice
Additional Projected Price
11/30/17 Projected Price
Updated CAT Price (Yield Protection Only)
($ / pound) ($ / pound) ($ / pound) Cranberry (non-organic) $0.37 $0.34 $0.2035 Cranberry (organic) $0.74 $0.68 $0.4070 Light Red Kidney (non-organic) $0.35 $0.34 $0.1925 Light Red Kidney (organic) $0.70 $0.68 $0.3850 Small Red (non-organic) $0.27 $0.25 $0.1485 Small Red (organic) $0.54 $0.50 $0.2970 White Kidney (non-organic) $0.37 $0.34 $0.2035 White Kidney (organic) $0.74 $0.68 $0.4070 Dry Peas
Idaho, Montana, North Dakota and Washington
DPRE – Non-Revenue Types
Type / Organic Practice (not all types listed below may be available in all states)
Additional Projected Price
11/30/17 Projected Price
Updated CAT
Price (Yield Protection Only)($ / pound) ($ / pound) ($ / pound) Desi Chickpeas
(non-organic)$0.16 $0.15 $0.0880 Desi Chickpeas
(organic)$0.28 $0.26 $0.1540 Spring Austrian Peas, Forage Peas (non-organic) $0.18 $0.14 $0.0990 Spring Austrian Peas, Forage Peas (organic) $0.32 $0.25 $0.1760 DISPOSAL DATE:
December 31, 2018