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How Better Rain Forecast Benefits Farmers
29 Feb 2024
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Rain is an important factor as farmers' crop calendar revolves around the rainfall pattern
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Now, a report from Energy Policy Institute, University of Chicago, has presented groundbreaking insights from Telangana
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It says that one-third of farmers plan their crops on the basis of rainfall forecast
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Optimistic farmers reduce their investments by 22% if the forecast talks about "bad news", as per the study
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They also cut expenditures by 10% and reduce land area to be cultivated on the basis of the information received
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On the other hand, farmers with similar beliefs but no information increase their land cultivation area
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Agricultural output, crop sales and profits of optimistic farmers take a hit but they find other ways to make money
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But positive forecast allows them to cut their debt in half, leading to net savings
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The study also said that these farmers were able to diversify their activities - and were better off due to forecast
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It further talks about farmers' insurance and how it changes their behaviour even if forecast data is not available
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Combining forecasts and insurance could enhance climate adaptation strategies for farmers
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