PRODUCT MANAGEMENT BULLETIN: PM–22-020
United States Department of Agriculture
Farm and Foreign Agricultural Services
Risk Management Agency
1400 Independence Avenue, SW
Stop 0801
Washington, DC 20250-0801
Date
To:
All Risk Management Agency Field Offices
All Other Interested Parties
From:
Subject:
-
Dry Pea and Dry Bean Crop Provisions and Revenue Endorsement
The Risk Management Agency (RMA) approved the 2022 CY projected prices shown below for the following plans of insurance: Yield Protection, Revenue Protection, and Revenue Protection with Harvest Price Exclusion. The RMA approved the 2022 CY volatility factors shown below 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. Projected Prices and Volatility Factors apply to Supplemental Coverage Option (SCO) and Enhanced Coverage Option (ECO), as appropriate.
As authorized by the Special Provisions, RMA is also providing additional projected prices for selected dry bean and dry pea types where the Dry Bean Revenue Endorsement and Dry Pea Revenue Endorsement 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:
Dry Beans – Colorado, Nebraska, and Wyoming
Type and Organic Practice* Projected Price
($ / pound)Volatility Factor CAT Price
(Yield Production Only)
($ / pound)Pinto
$0.38 0.22 $0.2090 Pinto Organic*
$0.76 N/A $0.4180 *Premium Organic projected prices are only offered for the yield-based plans of insurance.
Dry Beans – Minnesota and North Dakota
Type and Organic Practice* Projected Price
($ / pound)Volatility Factor CAT Price
(Yield Production Only)
($ / pound)Black
$0.39 0.22 $0.2145 Black Organic*
$0.78 N/A $0.4290 Dark Red Kidney
$0.44 0.22 $0.2420 Dark Red Kidney Organic*
$0.88 N/A $0.4840
Pea
$0.39 0.22 $0.2145 Pea Organic*
$0.78 N/A $0.4290 Pinto
$0.37 0.22
$0.2035 Pinto Organic*
$0.74 N/A $0.4070 *Premium Organic projected prices are only offered for the yield-based plans of insurance.
Dry Beans – Michigan
Type and Organic Practice* Projected Price
($ / pound)Volatility Factor CAT Price
(Yield Production Only)
($ / pound)Black
$0.40 0.22 $0.2200 Black Organic*
$0.80 N/A $0.4400 Pea
$0.40 0.22 $0.2200 Pea Organic*
$0.80
N/A $0.4400 Small Red
$0.41 0.22 $0.2255 Small Red Organic*
$0.82 N/A $0.4510 *Premium Organic projected prices are only offered for the yield-based plans of insurance.
Dry Peas (Spring Types)
Montana, North Dakota, and South DakotaType and Organic Practice*
(not all types may be available in all states)Projected Price
($ / pound)Volatility Factor CAT Price
(Yield Production Only)
($ / pound)Smooth Green/Yellow
$0.17 0.23 $0.0935 Smooth Green/Yellow organic
$0.21 N/A $0.1155 Lentils
$0.26 0.23 $0.1430 Lentils organic
$0.32 N/A $0.1760 Small Kabuli Chickpeas
$0.26 0.23 $0.1430 Small Kabuli Chickpeas organic
$0.33 N/A $0.1815 Large Kabuli Chickpeas
$0.31 0.23
$0.1705 Large Kabuli Chickpeas organic
$0.40 N/A $0.2200 * Premium organic projected prices are only offered for the yield-based plans of insurance.
Dry Peas (Spring Types)
Idaho and WashingtonType and Organic Practice*
(not all types may be available in all states)Projected Price
($ / pound)Volatility Factor CAT Price
(Yield Production Only)
($ / pound)Smooth Green/Yellow
$0.19
0.23
$0.1045
Smooth Green/Yellow organic
$0.23
N/A
$0.1265
Lentils
$0.335
0.23
$0.1843
Lentils organic
$0.335
N/A
$0.1843
Small Kabuli Chickpeas
$0.28
0.23
$0.1540
Small Kabuli Chickpeas organic
$0.33
N/A
$0.1815
Large Kabuli Chickpeas
$0.34
0.23
$0.1870
Large Kabuli Chickpeas organic
$0.40
N/A
$0.2200
* Premium organic projected prices are only offered for the yield-based plans of insurance.
Additional Projected Prices:
Dry Beans – Minnesota and North Dakota
Type and Organic Practice
(not all types may be available in all states)Additional
Projected
Price
($ / pound)11/30/2021
Projected
Price
($ / pound)Updated
CAT Price
(Yield Protection Only)
($ / pound)Cranberry
$0.49
$0.40
$0.2695
Cranberry Organic
$0.98
$0.80
$0.5390
Great Northern
$0.31
$0.28
$0.1705
Great Northern Organic
$0.62
$0.56
$0.3410
Light Red Kidney
$0.44
$0.40
$0.2420
Light Red Kidney Organic
$0.88
$0.80 $0.4840 Pink
$0.39 $0.34 $0.2145 Pink Organic
$0.78 $0.68 $0.4290 Small Red
$0.38 $0.35 $0.2090 Small Red Organic
$0.76 $0.70 $0.4180 White Kidney
$0.49 $0.40 $0.2695 White Kidney Organic
$0.98 $0.80 $0.5390 Tebo
$0.31 $0.28 $0.1705 Tebo Organic
$0.62 $0.56 $0.3410 Dry Beans – Colorado, Nebraska, and Wyoming
Type and Organic Practice
(not all types may be available in all states)Additional
Projected
Price
($ / pound)11/30/2021
Projected
Price
($ / pound)Updated
CAT Price
(Yield Production Only)
($ / pound)Black
$0.40 $0.34 $0.2200 Black Organic
$0.80 $0.68 $0.4400 Dark Red Kidney
$0.44 $0.40 $0.2420 Dark Red Kidney Organic
$0.88 $0.80 $0.4840 Great Northern
$0.31 $0.28 $0.1705 Great Northern Organic
$0.62 $0.56 $0.3410 Light Red Kidney
$0.46 $0.40 $0.2530 Light Red Kidney Organic
$0.92 $0.80 $0.5060 Pea
$0.40 $0.33 $0.2200 Pea Organic
$0.80 $0.66 $0.4400 Pink
$0.40 $0.34 $0.2200 Pink Organic
$0.80 $0.68 $0.4400 Flat Small White
$0.40 $0.33 $0.2200 Flat Small White Organic
$0.80 $0.66 $0.4400 Small Red
$0.41 $0.35 $0.2255 Small Red Organic
$0.82 $0.70 $0.4510 Small White
$0.40 $0.33 $0.2200 Small White Organic
$0.80 $0.66 $0.4400 Yellow
$0.41 $0.37 $0.2255 Yellow Organic
$0.82 $0.74 $0.4510 Anasazi
$0.52 $0.50 $0.2860 Anasazi Organic
$1.04 $1.00 $0.5720 Dry Beans – Michigan
Type and Organic Practice Additional
Projected
Price
($ / pound)11/30/2021
Projected
Price
($ / pound)Updated
CAT Price
(Yield Production Only)
($ / pound)Cranberry
$0.49
$0.40 $0.2695 Cranberry Organic
$0.98 $0.80 $0.5390 Dark Red Kidney
$0.44 $0.40 $0.2420 Dark Red Kidney Organic
$0.88 $0.80 $0.4840 Great Northern
$0.31 $0.28 $0.1705 Great Northern Organic
$0.62 $0.56 $0.3410 Light Red Kidney
$0.46 $0.40 $0.2530 Light Red Kidney Organic
$0.92 $0.80 $0.5060 Pink
$0.40 $0.34 $0.2200 Pink Organic
$0.80 $0.68 $0.4400 Pinto
$0.38 $0.32 $0.2090 Pinto Organic
$0.76 $0.64 $0.4180 Small White
$0.40 $0.33 $0.2200 Small White Organic
$0.80 $0.66 $0.4400 Yelloweye
$0.45 $0.39 $0.2475 Yelloweye Organic
$0.90 $0.78 $0.4950 White Kidney
$0.50 $0.40 $0.2750 White Kidney Organic
$1.00 $0.80 $0.5500 Adzuki
$0.41 $0.35 $0.2255 Adzuki Organic
$0.82 $0.70 $0.4510 Tebo
$0.31 $0.28 $0.1705 Tebo Organic
$0.62 $0.56 $0.3410 Dry Peas (Spring Types)
Montana, North Dakota, and South Dakota
DISPOSAL DATEType and Organic Practice
(not all types may be available in all states)Additional Projected Price
($ / pound)11/30/2021 Projected Price
($ / pound)Updated
CAT Price
(Yield Production Only)
($ / pound)Austrian and Forage Peas
$0.23 $0.20 $0.1265 Austrian and Forage Peas organic
$0.35 $0.30 $0.1925 Desi Chickpeas
$0.32 $0.16 $0.1760 Desi Chickpeas organic
$0.64 $0.32 $0.3520 Marrowfat Peas
$0.22 $0.15 $0.1210 Marrowfat Peas organic
$0.33 $0.22 $0.1815 Fava Beans
$0.21 $0.12 $0.1155
January 31, 2023