The National Farmers Federation (NFF) has released a survey with the NSW government to better understand financial risk management options for farmers.
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Results of the survey will aid the NFF in helping farmers manage risks, especially when it comes to droughts and natural disasters.
Financial risk management covers aspects like farm production and fire insurance, workers compensation and price risk management which include both listed and unlisted derivatives like futures, call options and forward contracts.
NSW Farmers Goulburn Branch Chair Margaret Cameron encouraged farmers to take part in the survey.
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"With surveys like these, unless enough people participate, then the figures wouldn't be really validated," Ms Cameron said.
In the survey, farmers are asked questions like their estimated annual revenue, the main weather peril they face, their insurance and how much they'd be willing to pay for insurance on the perils they face.
To complete the survey, visit https://www.surveymonkey.com/r/7B8SZN9
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Burney Wong
I love sport. You can reach me at burney.wong@austcommunitymedia.com.au or on 0437 291 518.
I love sport. You can reach me at burney.wong@austcommunitymedia.com.au or on 0437 291 518.
