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Policy & Procedure

Product Management Bulletin-PM-21-014

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Date
To
All Approved Insurance Providers
All Risk Management Agency Field Offices
All Other Interested Parties
From
Richard H. Flournoy, Deputy Administrator /s/ Richard H. Flournoy 3/2/2021
Subject
2021 Crop Year (CY) Dry Bean and Dry Pea selected Projected Prices, Volatility Factors, and Additional Projected Prices for the March 15, 2021 Sales Closing Date (SCD)

 

Dry Pea and Dry Bean Crop Provisions and Revenue Endorsement
 

The approved 2021 CY projected prices shown below are for the Yield Protection, Revenue Protection, and Revenue Protection with Harvest Price Exclusion plans of insurance. The approved 2021 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. Projected Prices and Volatility Factors apply to Supplemental Coverage Option (SCO) and Enhanced Coverage Option (ECO), as appropriate.

As authorized by the Special Provisions, RMA is also 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:

Dry Beans
Michigan
DBRE Revenue Types

Type / Organic Practice*

Projected Price
($/Pound)

Volatility Factor

CAT Price
(Yield Protection Only)
($/Pound)

Black

$0.35

0.20

$0.1925

Black Organic

$0.70

N/A

$0.3850

Pea

$0.35

0.20

$0.1925

Pea Organic

$0.70

N/A

$0.3850

Small Red

$0.36

0.20

$0.1980

Small Red Organic

$0.72

N/A

$0.3960

Dry Beans
Minnesota and North Dakota
DBRE Revenue Types

Type / Organic Practice*

Projected Price
($/Pound)

Volatility Factor

CAT Price
(Yield Protection Only)
($/Pound)

Black

$0.30

0.20

$0.1650

Black Organic

$0.60

N/A

$0.3300

Dark Red Kidney

$0.44

0.20

$0.2420

Dark Red Kidney Organic

$0.88

N/A

$0.4840

Pea

$0.31

0.20

$0.1705

Pea Organic

$0.62

N/A

$0.3410

Pinto

$0.30

0.20

$0.1650

Pinto Organic

$0.60

N/A

$0.3300

*Premium organic projected prices are only offered for the yield-based plans of insurance.

Dry Peas
Montana, North Dakota, and South Dakota
DPRE Revenue Types (Spring Types)

Type and Organic Practice*
(not all types may be available in all states)

Projected Price
($/Pound)

Volatility Factor

CAT Price
(Yield Protection Only)
($/Pound)

Smooth Green/Yellow

$0.12

0.21

$0.0660

Smooth Green/Yellow organic

$0.21

N/A

$0.1155

Lentils

$0.20

0.21

$0.1100

Lentils organic

$0.32

N/A

$0.1760

Small Kabuli Chickpeas

$0.20

0.21

$0.1100

Small Kabuli Chickpeas organic

$0.33

N/A

$0.1815

Large Kabuli Chickpeas

$0.23

0.21

$0.1265

Large Kabuli Chickpeas organic

$0.40

N/A

$0.2200

Dry Peas
Idaho and Washington
DPRE Revenue Types (Spring Types)

Type and Organic Practice*
(not all types may be available in all states)

Projected Price
($/Pound)

Volatility Factor

CAT Price
(Yield Protection Only)
($/Pound)

Smooth Green/Yellow

$0.14

0.21

$0.0770

Smooth Green/Yellow organic

$0.23

N/A

$0.1265

Lentils

$0.23

0.21

$0.1265

Lentils organic

$0.32

N/A

$0.1760

Small Kabuli Chickpeas

$0.21

0.21

$0.1155

Small Kabuli Chickpeas organic

$0.33

N/A

$0.1815

Large Kabuli Chickpeas

$0.26

0.21

$0.1430

Large Kabuli Chickpeas organic

$0.40

N/A

$0.220

*Premium organic projected prices are only offered for the yield-based plans of insurance.

Additional Projected Prices:

Dry Beans
Michigan
DBRE Non-Revenue Types

Type / Organic Practice

Additional
Projected Price
($/Pound)

11/30/2020
Projected Price
($/Pound)

Updated CAT Price
(Yield Protection Only)
($/Pound)

Cranberry

$0.49

$0.38

$0.2695

Cranberry Organic

$0.98

$0.76

$0.5390

Dark Red Kidney

$0.44

$0.30

$0.2420

Dark Red Kidney Organic

$0.88

$0.60

$0.4840

Great Northern

$0.33

$0.27

$0.1815

Great Northern Organic

$0.66

$0.54

$0.3630

Light Red Kidney

$0.48

$0.38

$0.2640

Light Red Kidney Organic

$0.96

$0.76

$0.5280

Pink

$0.32

$0.27

$0.1760

Pink Organic

$0.64

$0.54

$0.3520

Pinto

$0.32

$0.20

$0.1760

Pinto Organic

$0.64

$0.40

$0.3520

Small White

$0.35

$0.27

$0.1925

Small White Organic

$0.70

$0.54

$0.3850

Yelloweye

$0.36

$0.30

$0.1980

Yelloweye Organic

$0.72

$0.60

$0.3960

White Kidney

$0.49

$0.38

$0.2695

White Kidney Organic

$0.98

$0.76

$0.5390

Adzuki

$0.36

$0.28

$0.1980

Adzuki Organic

$0.72

$0.56

$0.3960

Tebo

$0.33

$0.27

$0.1815

Tebo Organic

$0.66

$0.54

$0.3630

Dry Beans
Minnesota and North Dakota
DBRE Non-Revenue Types

Type / Organic Practice

Additional
Projected Price
($/Pound)

11/30/2020
Projected Price
($/Pound)

Updated CAT Price
(Yield Protection Only)
($/Pound)

Cranberry

$0.49

$0.38

$0.2695

Cranberry Organic

$0.98

$0.76

$0.5390

Great Northern

$0.33

$0.27

$0.1815

Great Northern Organic

$0.66

$0.54

$0.3630

Light Red Kidney

$0.40

$0.38

$0.2200

Light Red Kidney Organic

$0.80

$0.76

$0.4400

Pink

$0.30

$0.25

$0.1650

Pink Organic

$0.60

$0.50

$0.3300

Small Red

$0.31

$0.28

$0.1705

Small Red Organic

$0.62

$0.56

$0.3410

White Kidney

$0.49

$0.38

$0.2695

White Kidney Organic

$0.98

$0.76

$0.5390

Tebo

$0.33

$0.27

$0.1815

Tebo Organic

$0.66

$0.54

$0.3630

Dry Peas
Montana, North Dakota,
and South Dakota
DPRE – Non-Revenue Types

Type / Organic Practice
(not all types listed below may be available in all states)

Additional
Projected Price
($/Pound)

11/30/2020
Projected Price
($/Pound)

Updated CAT Price
(Yield Protection Only)
($/Pound)

Desi Chickpeas

$0.18

$0.13

$0.0990

Desi Chickpeas organic

$0.33

$0.26

$0.1815

Marrowfat Peas

$0.18

$0.13

$0.0990

Marrowfat Peas organic

$0.27

$0.22

$0.1485

Fava Beans

$0.16

$0.11

$0.0880

DISPOSAL DATE:
January 31, 2022