Definition of Crop Revenue Coverage (CRC)

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TeachMeFinance.com - explain Crop Revenue Coverage (CRC)



Crop Revenue Coverage (CRC)

The term 'Crop Revenue Coverage (CRC) ' as it applies to the area of agriculture can be defined as ' A form of revenue insurance that protects a producerís revenue for an insurable crop whenever low prices, low yields, or a combination of both causes revenue to fall below a guaranteed level selected by the producer. It differs from other revenue insurance programs by allowing producers to use the higher of the planting price or the market price in determining a target level of revenue'.

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Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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