Que. crop insurance payouts, claims down: FAQ

Crop damage claims from Quebec’s 2007 growing season are below the five-year average and crop insurance payouts are also expected to drop from year-earlier levels, the provincial ag lending and insurance agency reported Tuesday.

La Financiere agricole du Quebec’s (FAQ) February report on the state of Quebec’s crops describes the 2007 harvest as generally well-played out with crop yields and quality generally average to above-average.

As of Feb. 4, the agency reported receiving 7,461 claims for the 2007 season, down from the 2002-06 average of 7,678.

La Financiere predicted it would pay out $45 million on claims coming out of the 2007 harvest, and had paid $39.4 million as of Feb. 4 — down from the payout of $56.8 million on an expected $69.7 million in claims at about the same time in 2007, coming out of the 2006 season.

Payouts so far for the 2007 season included $14.5 million for hay crops, $9.24 million for market garden crops, $6.58 million for grains and oilseeds (including $4.5 million for soybeans), $2.45 million for processing vegetables, $2.42 million for apple crops, $2.04 million for honey crops (including $1.05 million for overwintering losses), $1.36 million for potatoes and $726,000 for small fruits (including $405,000 for blueberries).

FAQ reported a total insured value of $1.022 billion across the province for the 2007 growing season (up 8.5 per cent from 2006). Farmers paid in a total of $27.94 million in premiums, the agency said.