USDA Announces Expansion, Other Improvements to Hemp Crop Insurance

On Monday, the USDA announced the expansion of the pilot Multi-Peril Crop Insurance plan for hemp. The expansion and other improvements to the plan, will begin in the 2021 crop year.

USDA Risk Management Agency Administrator Martin Barbre said, “Hemp offers exciting economic opportunities for our nation’s farmers, and we are listening and responding to their risk management needs.”

The program expansion allows for additional states and specific counties to be included in the program. The changes also allow broker contracts for hemp grain and adjust program reporting and billing dates. Sales closing, cancellation, production reporting and termination dates were adjusted to match dates of similar crops.

Meanwhile, USDA adjusted Acreage Reporting Dates based on regional final planting dates. The premium billing dates for all states changed to August 15. For more information on USDA risk management programs for hemp producers, they are encouraged to visit farmers.gov/hemp.

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