USDA Improving Crop Insurance for Hemp
USDA Risk Management Agency (RMA) announced that it is strengthening the hemp crop insurance policy by adding flexibilities around how producers work with processors, as well as improving consistency with the most recent USDA hemp regulation. Producers are no longer required to deliver hemp without economic value for insurability. Additionally, RMA clarified how the amount of insurable acreage is determined if the processor contract specifies both an acreage and a production amount. This change was made in the policy to ensure producers know how their insurable acreage is determined for those contracts. Additionally, RMA added a new requirement for producers who grow direct-seeded hemp, or hemp grown from seeds planted in the ground. Before insurance attaches, producers must have acreage inspected and must have a minimum of 1,200 live plants per acre. The hemp crop insurance policy is available in certain counties within 25 states.