News

USDA expands hemp crop insurance options

Published:

 The U.S. Department of Agriculture announced it 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 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.

RMA is authorizing additional flexibilities due to the coronavirus pandemic while continuing to support producers, working through Approved Insurance Providers (AIPs) to deliver services, including processing policies, claims, and agreements. RMA staff are working with AIPs and other customers by phone, mail, and electronically to continue supporting crop insurance coverage for producers. Farmers with crop insurance questions or needs should continue to contact their insurance agents about conducting business remotely (by telephone or email). More information can be found at farmers.gov/coronavirus.

Crop insurance is sold and delivered solely through private insurance agents. A list of insurance agents is available online using the RMA Agent Locator. Learn more about crop insurance and the modern farm safety net at on their website.

 

Become an ag insider with AGDAILY!
We deliver quality over quantity. Sign up here!

Sponsored Content on AGDaily
Any views or opinions expressed in this article are those of the author and do not reflect those of AGDAILY. Comments on this article reflect the sole opinions of their writers.