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RMA expands hemp insurance pilot program
The USDA’s Risk Management Agency (RMA) says it has expanded its pilot crop insurance plan for hemp in the 2021 crop year and made other improvements.
Arkansas is one of four states added and two counties in Kentucky have been added (Kenton and Whitley Counties) to the Multi Peril Crop Insurance program.
The program will now allow broker contracts for hemp grain and dates for program, reporting and billing have been adjusted to match similar crops. Premium billing dates have been adjusted to August 15th.
RMA Administrator Martin Barbre says hemp offers “exciting economic opportunities” for U.S. farmers and the agency is listening and responding to their risk management needs.
The hemp insurance pilot program is available in 23 states including Illinois, Indiana, Michigan, Minnesota, North Dakota and Wisconsin.
