Will Carbon Markets Drive Farmers to Collect More Data?

About 37% of farmers use a data software package on their farms, according to the 2021 Farm Journal Technology Survey. Of those who are collecting agronomic data, they’re most often collecting yield maps, planting and chemical and fertilizer applications. 

Additionally, 67% of farmers say when they invest in technology they expect to see a return on investment in three years, and 43% say their data is benefiting them both agronomically and economically. 

While roughly 1% of farmers nationally have signed a carbon contract, according to a recent Purdue University Ag Economy Barometer survey, about 44% of respondents to the Farm Journal Technology survey said that emerging markets such as carbon credits are an incentive to collect more and better data.

At the same time, farmers are still cautious about their data and data sharing, with 48% of respondents saying they’re somewhat or very uncomfortable with entering field level data into farm market software to participate in carbon markets. 

To learn more about carbon markets and find answers to your burning carbon questions, visit the Carbon Innovation Center.