We may not be able to precisely predict the far-off future, but we can review the past and measure the present. In answering “what’s normal,” we have to work with the information we have.
With El Nino weather patterns, low water levels and the current hurricane season, what should be top of mind for agribusiness managers?
The big answer is the world is riskier, cost of asset replacement is higher, and alternatives to the standard operating procedure are more expensive.
You can learn more about the dynamics of how severe weather events are affecting ag’s bottom line here. I’m highlighting three field-level tools to consider as well.
- Lower finance rates are being offered to those practicing regenerative ag — particularly focusing on building more resiliency to dry conditions. Many pilots are in year one or just getting scoped, so full financial incentives are to be determined.
- In-field sensors give farmers more information to manage water resources available, particularly with precision irrigation. Sensors must provide three things: return on investment, reliability and field toughness, and accurate insights.
- Other tech tools are elevating the measurements of disasters with aerial imagery provided by drones and satellites. For example, drones have been used to make crop adjusters more efficient when working claims. In another example, via a satellite image, an ag retailer could see the path of a small tornado through a field that could have otherwise gone undetected until harvest.
Are we using everything we have at hand to help us navigate the unknown? What else could bring more certainty to things out of our control?
