Markets
Canada Farms Reap Precision Data to Cut Lending, Insurance Costs
- Farmers Edge joins with banks, insurers to evaluate crop data
- Ag tech helps counter flagging crop incomes, assess risk
Canola is harvested on a farm near Grosse Isle, Manitoba.
Photographer: Shannon VanRaes/BloombergThis article is for subscribers only.
Canadian farmers -- grappling with with lower crop income, adverse weather and a trade dispute with China -- are using precision-agriculture technology aimed at reducing lending and insurance costs.
Collecting intricate crop data allows individual farmers to outline potentially limited risk to banks and insurers, Tristan Skolrud, an assistant professor in the agricultural and resource economics department at the University of Saskatchewan, said in a telephone interview.