The U.S. Department of Agriculture extended its Multi-Peril Crop Insurance (MPCI) plan to Arizona, Arkansas, Nevada and Texas, “responding to their risk management needs,” said Martin Barbre, administrator of USDA’s Risk Management Agency. The expanded program provides hemp producers more options for protecting their crops in the 2021 crop year, and allows broker contracting for hemp grain. MPCI provides coverage against loss of yield because of insurable causes for crops grown for fiber, grain or CBD. A second USDA program, the Noninsured Crop Disaster Assistance Program, protects against losses associated with lower yields, destroyed crops or prevented planting where no permanent federal crop insurance program is available. Neither program covers farmers in the case of their crops going over the 0.3% national limit for THC in hemp.
Posted By: HempToday® December 3, 2020
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