US: USDA to expand hemp crop insurance

The U.S. Department of Agriculture (USDA) is expanding the pilot Multi-Peril Crop Insurance (MPCI) plan for hemp. The expansion, as well as other improvements to the plan, will begin in the 2021 crop year.

“We are pleased to expand the hemp program and make other improvements for hemp producers,” said USDA’s Risk Management Agency (RMA) Administrator Martin Barbre. “Hemp offers exciting economic opportunities for our nation’s farmers, and we are listening and responding to their risk management needs.”

The changes announced today include:

  • Expanding the program:
    • New states included: select counties in Arizona, Arkansas, Nevada and Texas
    • New counties (13) in states with existing coverage: Conejos, CO; La Plata, CO; Moffat, CO; Routt, CO; San Miguel, CO; Kenton, KY; Whitley, KY; Houghton, MI; Granite, MT; San Miguel, NM; Valencia, NM; Scott, TN; Alleghany, VA
  • Allowing broker contracts for hemp grain
  • Adjusting program, reporting and billing dates:
    • Sales closing, cancellation, production reporting and termination dates adjusted to match dates of similar crops
    • Acreage Reporting Dates adjusted based on regional final planting dates
    • Premium billing dates for all states changed to August 15
    • For specific information on dates by county, see RMA’s Actuarial Information Browser

For more information on USDA risk management programs for hemp producers, visit farmers.gov/hemp.

Source: rma.usda.gov


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