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Message from the President

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Beyond Insurance

Beyond Insurance

Globalization gave us many things, including a hearty supply and variety of foods. Now, as the world deglobalizes, it’s possible that over the next ten years food access will become a challenge for a growing number of people around the world. For example, Brazil has lousy soils and can only grow what’s needed to feed its population of 217 million with lots of fertilizer. Without it, they grow very, very little. Even delays of getting fertilizer products for a planting season of row crops that is time sensitive spells problems for many.

Let me offer a friendly reminder about just how fortunate we are to have an agricultural industry that makes us largely self-sufficient. Our national population is approaching 336 million people, and with few exceptions here at home, we have plenty of food to feed ourselves plus millions of others around the world. Here in Delaware, we grow corn, soybeans, lima beans (not my favorite), a host of other fruits and vegetables, and, of course, raise chickens too. The farm economy is the biggest contributor to our economy, and it may be the least valued by consumers. We certainly learned to appreciate the quality and variety of the food producing sector during the COVID-19 pandemic, and we should never take it for granted.

The world is changing rapidly and with that change will come disruptions, including the availability and price of food. In the U.S, where we make our own fertilizers and grow our own food, we’ll be fine. However, change will bring inflationary prices along with shortages for many around the globe, and we should not be surprised when that happens. Just as we cannot get by without clean air and water, we need a food and distribution system that is robust and reliable. We’re fortunate here in the First State for our farmers and those connected to agriculture. We do help feed the world, but headwinds are likely in our future.

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