Determination Of Soybean Income Insurance Rate And Product Design In Liaoning Province

Agriculture is the basic industry of the national economy and occupies a very important position in our country.At present,various natural disasters occur frequently in Liaoning Province,and the market economy is unstable,which makes agricultural production activities face higher risks.Crop income insurance can effectively prevent the possibility of production and price risks causing farmers’ income to decrease,and provide farmers with more Comprehensive protection,stabilize farmers’ income,and improve farmers’ enthusiasm for production and operation.Therefore,Liaoning Province should pay attention to the development of crop income insurance and strengthen the research on crop income insurance.As one of the important grain and oil crops,soybean is of great significance to my country’s food security and economic security.At present,the domestic soybean supply is in short supply,and there is a certain dependence on imported soybeans,which hinders the healthy development of the domestic soybean industry.To this end,in 2019,my country proposed relevant policies and prepared to implement the soybean revitalization plan again,providing strong policy support for the increase in soybean planting area and enhancing my country’s own soybean production capacity.As one of the soybean planting areas in Northeast China,Liaoning Province has good planting conditions.It should follow the policy closely,increase the soybean planting area,increase farmers’ willingness to plant soybeans,and then promote the high-quality development of soybean production.Based on this,this paper takes Liaoning soybean as an example to study the rate determination and product design of income insurance.Selecting the soybean yield and price data in Liaoning Province,and analyzing the soybean yield and price risk in Liaoning Province through H-P filtering,it is believed that it is necessary to promote or expand the pilot program of income insurance for soybeans in Liaoning Province.The distribution of the data and the price index data is fitted,the Copula function method is used to establish the joint distribution of soybean yield and price,and the Monte Carlo simulation method is used to calculate the rate.The results show that when the protection level is 70%-100%,the pure premium rate of soybean income insurance in Liaoning Province is between 6.38%-11.23%.When the protection level increases,the pure premium rate is higher.Moreover,when the level of protection continues to increase,the growth rate of the pure insurance rate also increases,that is to say,for every 5%increase in the income protection level,the faster the pure insurance rate rises,which may be related to the high-risk characteristics of agricultural insurance.in the case of facing both yield risk and price risk,farmers’income security is relatively easy to maintain at a low level,and on this basis,the income insurance product design for soybeans in Liaoning Province is designed for future soybean income insurance theory and Reference for applied research.Finally,this paper puts forward relevant suggestions for Liaoning Province to carry out soybean income insurance from several aspects.