Crop Insurance for Hemp Growers

This information has been shared by UVM Agricultural Risk Management and Crop Insurance Education. Contact information is at the end.

This is the most current information I have on crop insurance for hemp growers. Hemp was added to the Whole Farm Revenue Protection insurance crop list for 2020. Scanning popular press online today I ran across this article in Farm Journal Ag Web, indicating that USDA has a pilot insurance program for 2020 hemp. https://bit.ly/35V2ztd

Here is link to a December 23 USDA RMA press release about the program. This MPCI insurance will be available in certain counties in 21 states: Alabama, California, Colorado, Illinois, Indiana, Kansas, Kentucky, Maine, Michigan, Minnesota, Montana, New Mexico, New York, North Carolina, North Dakota, Oklahoma, Oregon, Pennsylvania, Tennessee, Virginia, and Wisconsin. As you can see, only a few states in the northeast ‘neck of the woods’. Also, it sounds like it will only be available for certain limited growers: “Producers also must be a part of a Section 7606 state or university research pilot, as authorized by the 2014 Farm Bill, or be licensed under a state, tribal or federal program approved under the USDA Agricultural Marketing Service (AMS) interim final rule issued in October 2019.” However, they go on to say that in 2021 hemp will be covered under Nursery crop insurance. https://www.rma.usda.gov/News-Room/Press/Press-Releases/2019-News/USDA-Announces-Pilot-Insurance-Coverage-for-Hemp-Growers

It’s such an expensive crop to grow, insurance protection would be a pretty important consideration for many producers.

Jake — Jake Jacobs UVM Agricultural Risk Management and Crop Insurance Education 208 Morrill Hall, 146 University Place University of Vermont Burlington, VT 05405 Email: jake.jacobs@uvm.edu Message phone line: 802-656-7356 Website: http://go.uvm.edu/ag-risk

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