Despite declining interest in recent years, wild rice crop insurance is being offered again in 2014.
Premiums are similar to last year with producers north of La Ronge paying the highest premiums yet again.
Colleen Rooney, a research analyst with Saskatchewan Agriculture, says producers in the north-central region, who choose a 70% coverage level, will pay a premium of $2.61 per acre.
That compares to $1.02 per acre in the northwest region and $1.29 per acre in the northeast.
Rooney says last year’s wet weather played havoc in certain areas, and that’s where premiums have gone up:
“There was water and high levels. The eastern region was above the average production for that zone, but the western and central regions were both below the long-term average for production — so they saw some payments out of those regions.”
Just 48 producers signed up for the coverage last year, but Rooney says that number could rise:
“I did receive some interest from producers interested in the coverage and possible purchasing insurance this year so those numbers may go up.”
Producers who wish to take advantage of the coverage have until March 31 to do so.
Rooney adds one bright spot is that the price option, or insured price, has increased from $0.85/lb. to $0.93/lb.