Exposed value (USD)

An exposed element is any object, geographically referenced, that is likely to be affected by the occurrence of a threatening phenomenon. For this work, the exposed elements are crops located in the area where the risk of drought has been estimated. Crop economic valuation includes production costs by establishing a replacement value for each crop type (Olaya, 2015). Crop production costs include expenses related to investments in raw materials (seeds, fertilizers, irrigation), labour and machinery. Production, raw material and labour costs must be obtained from official sources, including government agencies, local unions or multilateral agencies.