USDA Invests $2.2 Million in Risk Management Education

The US Department of Agriculture announced an investment of over $2 million in risk management education on the 11th of August 2022.  

The Risk Management Agency (RMA) of the USDA will fund 16 organizations that will provide learning programs to producers and small-scale farmers on risk management and challenges. The organizations receiving the funds will include historically charted minority schools and universities, nonprofits, and university extensions, among others.   

According to RMA Administrator Marcia Bunger, budding farmers, and ranchers must know how to incorporate risk management strategies given that agriculture is a risky industry. "This funding and these partnerships help us reach communities that have historically lacked access to training and resources. Our risk management education partnerships are part of USDA's broader efforts to ensure equity and access to programs."  

The United States has progressed— rapidly shifting from farming to innovation and technology industries. But agriculture still plays an indispensable role in the growth of the nation. Agriculture-related industries contributed $1.055 trillion, a 5% share of the country's total GDP in 2020. Out of which, an estimated 0.6% or $134.7 billion comes from America's farms. Beyond uplifting the farming community, the Risk Management Education program is a chance for the United States' food & agricultural sector to gain from the ingenuity and creativity of the farmers once they become better equipped with agricultural techniques and practices.  

Agriculture, food, and related industries contributed $1.055 trillion to the U.S. gross domestic product (GDP) in 2020

Source: USDA

Conclusion  

USDA's efforts toward healing and transforming the farms and increasing diversity in the agriculture industry are admirable. Efforts like this are fostering the growth of next-generation farmers, building partnerships and trust, and harnessing the ambitions of a community to achieve what individuals cannot do solo through generous investments and opportunities. The agency has also allocated $4.5 million on outreach and education for the Transition Incentives Program (TIP) and $10 million to taxpayer education earlier this month.  

As put by George Washington, agriculture truly is the most healthful, most useful, and most noble employment of man!  

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