A Methodical Approach to Design and Valuation of Weather Derivatives in Agriculture

Table 1

Basic characteristic of selected regions in the Czech Republic (2010).

	Středočeský	Jihomoravský	Vysočina	Jihočeský	Královéhradecký	Olomoucký
Agricultural holdings	5,082	9,967	4,176	4,483	2,793	2,217
with agricultural land up to 10 ha	2,748	8,615	2,505	2,554	1,727	1,313
Agricultural output (CZK million, current prices)	18,939	12,341	11,408	11,216	7,637	7,099
Crop output	12,162	7,670	5,337	5,028	4,056	4,008
Animal output	6,180	3,997	5,653	5,419	3,304	2,389
Agricultural services output	446	348	290	419	205	167
Utilised agricultural land (ha)	663,524	362,381	364,600	422,246	234,041	244,172
Arable land	551,096	321,537	283,052	258,465	168,653	177,223
Permanent grassland	70,978	21,153	79,990	158,948	62,278	64,358
Crop production—harvest (tonnes)
Cereals, total	1,388,775	1,080,301	610,140	624,183	426,944	520,048
Potatoes, total	143,438	32,008	254,517	91,689	26,192	15,039
Rape	210,270	95,015	112,472	120,983	62,776	64,283
Livestock production
Livestock intensity
Cattle (heads/100 ha agr. land)	25.8	16.1	57.9	49.7	42.7	36.7
Pigs (heads/100 ha arable land)	60.9	80.8	99.2	67.0	73.7	62.9
Meat production (tonnes)	49,973	43,900	53,538	41,319	23,267	25,762
Milk production (thous. l)	324,039	146,827	447,592	319,395	205,659	178,612

Source: Czech Statistical Office—Regional statistical yearbooks (http://www.czso.cz).