2022 will go into the record books as the third costliest year for weather disasters in U.S. history, with an estimated $165 billion in total economic losses.
In the agriculture sector, new analysis by American Farm Bureau Federation economists in the March 3 Market Intel report shows extreme weather caused more than $21 billion in crop losses. Included in this total were Indiana’s crop losses from the June 13 derecho event in which wind gusts up to 98 mph were recorded.
The impact to America’s farms and ranches demonstrates the importance of farm bill programs to help rural communities recover from weather-related disasters, AFBF said.
For the full news release, visit AFBF’s website. The full Market Intel report is available here.
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