Date
To
All Approved Insurance Providers
All Risk Management Agency Field Offices
All Other Interested Parties
All Risk Management Agency Field Offices
All Other Interested Parties
From
Richard H. Flournoy, Deputy Administrator /s/ John W. Underwood 3/2/2020
Subject
2020 Crop Year (CY) Dry Pea and Dry Bean Crop Provisions and Revenue Endorsement: Selected Projected Prices, Volatility Factors, and Additional Projected Prices, as applicable, for States with a March 15, 2020, Sales Closing Date (SCD).
Dry Pea and Dry Bean Crop Provisions and Revenue Endorsement
The approved 2020 CY projected prices shown below are for the Yield Protection, Revenue Protection, and Revenue Protection with Harvest Price Exclusion plans of insurance. The approved 2020 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 | Projected Price | Volatility Factor | CAT Price (Yield Protection Only) |
|---|---|---|---|
| ($ / pound) | ($ / pound) | ||
| Black (non-organic) | $0.30 | 0.14 | $0.1650 |
| Black (organic) * | $0.60 | N/A | $0.3300 |
| Pea (non-organic) | $0.31 | 0.14 | $0.1705 |
| Pea (organic) * | $0.62 | N/A | $0.3410 |
| Small Red (non-organic) | $0.31 | 0.14 | $0.1705 |
| Small Red (organic) * | $0.62 | N/A | $0.3410 |
| Dry Beans Minnesota and North Dakota DBRE - Revenue Types Type / Organic Practice | Projected Price | Volatility Factor | CAT Price (Yield Protection Only) |
| ($ / pound) | ($ / pound) | ||
| Black (non-organic) | $0.26 | 0.14 | $0.1430 |
| Black (organic) * | $0.52 | N/A | $0.2860 |
| Dark Red Kidney (non-organic) | $0.44 | 0.14 | $0.2420 |
| Dark Red Kidney (organic) * | $0.88 | N/A | $0.4840 |
| Pea (non-organic) | $0.29 | 0.14 | $0.1595 |
| Pea (organic) * | $0.58 | N/A | $0.3190 |
| Pinto (non-organic) | $0.28 | 0.14 | $0.1540 |
| Pinto (organic) * | $0.56 | N/A | $0.3080 |
| * Premium organic projected prices are only offered for the yield-based plans of insurance. | |||
| Dry Peas Montana, North Dakota, and South Dakota DPRE – Revenue Types Type / Organic Practice | Projected Price | Volatility Factor | CAT Price (Yield Protection Only) |
|---|---|---|---|
| ($ / pound) | ($ / pound) | ||
| Spring Smooth Green/Yellow (non-organic) | $0.09 | 0.15 | $0.0495 |
| Spring Smooth Green/Yellow (organic) * | $0.17 | N/A | $0.0935 |
| Spring Lentils (non-organic) | $0.15 | 0.15 | $0.0825 |
| Spring Lentils (organic) * | $0.26 | N/A | $0.1430 |
| Spring Small Kabuli Chickpeas (non-organic) | $0.16 | 0.15 | $0.0880 |
| Spring Small Kabuli Chickpeas (organic) * | $0.30 | N/A | $0.1650 |
| Spring Large Kabuli Chickpeas (non-organic) | $0.17 | 0.15 | $0.0935 |
| Spring Large Kabuli Chickpeas (organic) * | $0.32 | N/A | $0.1760 |
| Dry Peas Idaho and Washington DPRE – Revenue Types Type / Organic Practice | Projected Price | Volatility | CAT Price (Yield Protection Only) |
|---|---|---|---|
| ($ / pound) | ($ / pound) | ||
| Spring Smooth Green/Yellow (non-organic) | $0.11 | 0.15 | $0.0605 |
| Spring Smooth Green/Yellow (organic) * | $0.21 | N/A | $0.1155 |
| Spring Lentils (non-organic) | $0.16 | 0.15 | $0.0880 |
| Spring Lentils (organic) * | $0.28 | N/A | $0.1540 |
| Spring Small Kabuli Chickpeas (non-organic) | $0.14 | 0.15 | $0.0770 |
| Spring Small Kabuli Chickpeas (organic) * | $0.27 | N/A | $0.1485 |
| Spring Large Kabuli Chickpeas (non-organic) | $0.19 | 0.15 | $0.1045 |
| Spring Large Kabuli Chickpeas (organic) * | $0.36 | N/A | $0.1980 |
| * Premium organic projected prices are only offered for the yield-based plans of insurance. | |||
Additional Projected Prices:
| Dry Beans Michigan DBRE - Non-Revenue Types Type / Organic Practice | Additional Projected Price | 11/30/2019 Projected Price | Updated CAT Price (Yield Protection Only) |
|---|---|---|---|
| ($ / pound) | ($ / pound) | ($ / pound) | |
| Dark Red Kidney (non-organic) | $0.44 | $0.35 | $0.2420 |
| Dark Red Kidney (organic) | $0.88 | $0.70 | $0.4840 |
| Great Northern (non-organic) | $0.30 | $0.27 | $0.1650 |
| Great Northern (organic) | $0.60 | $0.54 | $0.3300 |
| Light Red Kidney (non-organic) | $0.40 | $0.35 | $0.2200 |
| Light Red Kidney (organic) | $0.80 | $0.70 | $0.4400 |
| Pink (non-organic) | $0.32 | $0.27 | $0.1760 |
| Pink (organic) | $0.64 | $0.54 | $0.3520 |
| Pinto (non-organic) | $0.30 | $0.25 | $0.1650 |
| Pinto (organic) | $0.60 | $0.50 | $0.3300 |
| Small White (non-organic) | $0.31 | $0.26 | $0.1705 |
| Small White (organic) | $0.62 | $0.52 | $0.3410 |
| White Kidney (non-organic) | $0.42 | $0.37 | $0.2310 |
| White Kidney (organic) | $0.84 | $0.74 | $0.4620 |
| Adzuki (non-organic) | $0.31 | $0.28 | $0.1705 |
| Adzuki (organic) | $0.62 | $0.56 | $0.3410 |
| Tebo (non-organic) | $0.30 | $0.27 | $0.1650 |
| Tebo (organic) | $0.60 | $0.54 | $0.3300 |
| Dry Beans Minnesota and North Dakota DBRE - Non-Revenue Types Type / Organic Practice | Additional Projected Price | 11/30/2019 Projected Price | Updated CAT Price (Yield Protection Only) |
|---|---|---|---|
| ($ / pound) | ($ / pound) | ($ / pound) | |
| Great Northern (non-organic) | $0.30 | $0.27 | $0.1650 |
| Great Northern (organic) | $0.60 | $0.54 | $0.3300 |
| Light Red Kidney (non-organic) | $0.40 | $0.35 | $0.2200 |
| Light Red Kidney (organic) | $0.80 | $0.70 | $0.4400 |
| Pink (non-organic) | $0.30 | $0.25 | $0.1650 |
| Pink (organic) | $0.60 | $0.50 | $0.3300 |
| Small Red (non-organic) | $0.30 | $0.26 | $0.1650 |
| Small Red (organic) | $0.60 | $0.52 | $0.3300 |
| White Kidney (non-organic) | $0.42 | $0.37 | $0.2310 |
| White Kidney (organic) | $0.84 | $0.74 | $0.4620 |
| Tebo (non-organic) | $0.30 | $0.27 | $0.1650 |
| Tebo (organic) | $0.60 | $0.54 | $0.3300 |
| Dry Peas Idaho, Montana, North Dakota, South Dakota and Washington DPRE – Non-Revenue Types Type / Organic Practice (not all types listed below may be available in all states) | Additional Projected Price | 11/30/19 Projected Price | Updated CAT Price (Yield Protection Only) |
|---|---|---|---|
| ($ / pound) | ($ / pound) | ($ / pound) | |
| Desi Chickpeas (non-organic) | $0.14 | $0.10 | $0.0770 |
| Desi Chickpeas (organic) | $0.27 | $0.19 | $0.1485 |
| Spring Austrian Peas, Forage Peas (non-organic) | $0.16 | $0.13 | $0.0880 |
| Spring Austrian Peas, Forage Peas (organic) | $0.24 | $0.20 | $0.1320 |
| Marrowfat Peas (non-organic) | $0.18 | $0.13 | $0.0990 |
| Marrowfat Peas (organic) | $0.30 | $0.13 | $0.1650 |
DISPOSAL DATE:
January 31, 2020