Barometer: farmers discuss potential payment rates for carbon sequestration
April 7, 2021 By Amie Simpson Filed Under: Carbon, Climate, Climate Change, Crops, News
Farmer interest in getting paid to sequester carbon continues to rise, according to the latest Purdue University/CME Group Ag Economy Barometer.
Jim Mintert is director of the Purdue Center for Commercial Agriculture.
“There is so much interest among producers about what’s going on with carbon sequestration,” he says. “Between 30-40 percent of the people in our surveys are saying they’re aware of at least some opportunities to receive a carbon sequestration payment.”
He tells Brownfield among the small amount of producers who reported carbon sequestration payments that were offered…”just seven percent indicated they’ve had some discussions with companies about possible payments on their farming operation. Just one percent report that they’ve signed a carbon sequestration contract. Among the people who have had some discussions, we asked them what rates are being discussed on a per-acre basis and a little over 80 percent said the payment rates were $20 per acre or less. Those responses were split pretty evenly between people saying the rates offered were less than $10 an acre and people saying the rates were between $10-$20 per acre.”
The Ag Economy Barometer was conducted March 22-26.
Audio: Jim Mintert
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