USDA announced a pilot Multi-Peril Crop Insurance (MPCI) product for hemp producers in select counties in 21 states will be available for the 2020 crop year.
USDA created the new program in partnership with the U.S. Hemp Farming Alliance and AgriLogic. Eligible producers may participate in certain counties in 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.
“We are excited to offer coverage to certain hemp producers in this pilot program,” said USDA Risk Management Agency (RMA) Administrator Martin Barbre. “Since this is a pilot program, we look forward to feedback from producers on the program in the coming crop year.”
MPCI coverage under the pilot program is available for hemp grown for fiber, grain or CBD, according to USDA. To be eligible for coverage, producers must meet various requirements including compliance with applicable state, tribal or federal regulations for hemp production, having at least one year of history producing the crop and having a contract for the sale of the insured hemp.
Meanwhile, beginning with the 2021 crop year, hemp will be insurable under the Nursery crop insurance program and the Nursery Value Select pilot crop insurance program, USDA said.
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