USDA Announces New Hemp Insurance Program

Dec 30, 2019 at 08:39 AM CST
USDA announcing this week it's rolling out federal crop insurance for hemp growers in 21 states. USDA's Risk Management Agency pilot insurance program will cover the 2020 hemp crop in certain counties within the states. This is the first federal crop insurance program to protect against yield loss in hemp grown for fiber, grain or CBD. Previously, growers had little to no insurance. Hemp had to be rolled into the whole revenue of the farm under the Whole Farm Revenue Protection Coverage program. That option is still available and is in addition to the new pilot program.

Dec 30, 2019 at 08:39 AM CST

USDA announcing this week it's rolling out federal crop insurance for hemp growers in 21 states. USDA's Risk Management Agency pilot insurance program will cover the 2020 hemp crop in certain counties within the states. This is the first federal crop insurance program to protect against yield loss in hemp grown for fiber, grain or CBD. Previously, growers had little to no insurance. Hemp had to be rolled into the whole revenue of the farm under the Whole Farm Revenue Protection Coverage program. That option is still available and is in addition to the new pilot program.