The Risk Management Agency announced it’s offering a new crop insurance option for hemp growers in select counties across 21 states next year.
The pilot insurance program will provide Actual Production History coverage (APH) under 508(h) Multi-Peril Crop Insurance.
The offer is for eligible producers who raise the crop in certain counties throughout states like Alabama, California, Colorado, Illinois, Indiana, Kansas, Kentucky, Michigan, Maine, Minnesota, Montana, New York, North Carolina, North Dakota, Oklahoma, Oregon, Pennsylvania, Tennessee, Virginia, and Wisconsin.
The MPCI coverage applies to hemp grown for fiber, grain, or CBD oil for the 2020 crop year. This is in addition to the Whole-Farm Revenue Protection coverage available to hemp growers that was announced earlier this year.
“We are excited to offer coverage to certain hemp producers in the pilot program,” says RMA Administrator Martin Barbre. “Since it’s a pilot program, we look forward to feedback from producers in the program during the upcoming crop year.”
To be eligible for the program, producers must meet several requirements, including complying with applicable state, tribal, or federal regulations for hemp production, they must have at least one year’s history of producing the crop, and they must have a contract for the sale of the insured hemp.