Study: Texas farms lose more than $627 million annually to natural hazards

Texas farms are expected to lose an estimated $627.3 million each year because of natural hazards such as droughts, floods and severe weather, according to a new analysis released by Trace One.

The report, “Where Natural Disasters Are Having the Biggest Impact on the Nation’s Food Supply,” found Texas ranks second in the nation behind California for total agricultural losses tied to natural disasters. Researchers identified drought as the biggest threat to Texas agriculture.

According to the report, Texas farms face an average annual loss of $2,739 per farm, with total agricultural losses representing about 2.1% of the state’s agricultural value.