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PEANUT MARKETING NEWS – February 8, 2021 – Tyron Spearman, Editor (16)

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FREE MEDIA TRAINING & REFRESHER – OPEN TO PEANUT GROWERS - Consumers and businesses alike want to learn
more about how their food is grown and produced. As reporters make their way out into the fields to speak directly with peanut
farmers, National Peanut Board is offering a free media training and refresher webinar for all peanut growers on Feb. 23, 2021 at 1:00
p.m. EST. Peanuts have a fantastic story to tell and the farming families who produce them are the perfect storytellers. During the
session, growers will learn key talking points, how to answer tough questions, and get tips and resources.
The virtual educational session is open to peanut growers with all levels of media experience. During the 90-minute Zoom
session, NPB and agency partner Golin will cover both common questions and tough questions (such as allergies, aflatoxin, profits,
etc.) that media may potentially ask in an interview. With the provided key message points, growers will feel prepared to answer.
The final part of the event will be dedicated to small-group practice sessions with our grower coaches. Our grower coaches
are peanut farmers from multiple growing areas who have a fair amount of media experience. These coaches will be there to provide
tips and firsthand experience to growers in attendance. All those in attendance will also receive a takeaway sheet that features various
key messages and resources for topics like sustainability, nutrition, early introduction to prevent peanut allergies, aflatoxin, chemicals
and more. To sign up for the grower media training and refresher, interested growers can go to NPBfarmers.org to sign up.
INSURANCE PRICE DISCOVERY - Peanut price discovery for 2021 peanut insurance is under way. The projected price for 1/31
sales closing date South Texas runners was $422 per ton. The 2/28 sales closing date, which includes most of the Southeast,
Missouri, and parts of Texas, price is currently in the middle of discovery. The runner price as of today is $418 per ton. Discovery
for the 3/15 sales closing date, which includes New Mexico, Oklahoma, Virginia, and parts of Texas, has just begun. The projected
price is the price at which the initial insurance guarantee is established. Harvest price discovery for revenue insurance policies will
take place in October.
FEDERAL CROP INSURANCE UPDATE - For 2020, over 1.5 million acres of peanuts were insured, the second highest acreage
after 2017. This corresponds to $854 million in total liability, the third highest on record after 2012 and 2017. As of today (a small
number of claims have yet to be settled), the overall loss ratio on the 2020 insured acres is 1.13. (This means that $1.13 dollars of
indemnity were paid out for every $1 of total premium paid by the insureds and the USDA. The long-term average loss ratio should
represent a $1 in indemnity for every $1 in premium.) The states which suffered the highest relative losses were Texas and New
Mexico, together making up 40% of all insurance payments. This represents the insurance summary for the primary peanut insurance
options: Yield Protection, Revenue Protection, and Revenue Protection with Harvest Price Exclusion. Chart changes daily.
State Insured Acres Insured Liability ($) Total Premium ($) Total Indemnity ($) Loss Ratio
Alabama 177,238 $85,549,655 $11,606,893 $8,338,249 0.72
Arkansas 27,044 $14,174,429 $623,952 $867,575 1.39
Florida 158,841 $84,966,074 $8,564,372 $10,801,558 1.26
Georgia 771,138 $427,139,637 $29,806,588 $22,744,256 0.76
Louisiana 1,978 $962,431 $32,070 $26,496 0.83
Mississippi 19,271 $10,121,912 $700,545 $633,037 0.90
Missouri 1,827 $789,944 $28,358 $4,960 0.17
New Mexico 4,781 $3,743,149 $506,798 $1,158,046 2.29
North Carolina 98,712 $55,838,049 $4,290,061 $1,730,795 0.40
Oklahoma 9,219 $4,967,258 $406,602 $188,843 0.46
South Carolina 85,397 $41,765,956 $3,628,927 $3,477,294 0.96
Texas 166,686 $107,600,173 $10,965,036 $31,088,348 2.84
Virginia 23,894 $16,401,410 $912,765 $182,466 0.20
2020 Total 1,546,026 $854,020,077 $72,072,967 $81,241,923 1.13