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New risk management programs for hemp

The USDA is providing two risk management programs for hemp growers in 2020.

Martin Barbre, Administrator of the Risk Management Agency (RMA), says the first one is Multi-Peril Crop Insurance (MPCI) which is still a pilot program, “It protects against loss of yield because of insurable causes for hemp grown for fiber, grain or CBD oil. Producers can sign up for this program now and the deadline to sign up is March 16, 2020.”

Farm Service Agency Administrator Richard Fordyce says the other one is the Non-Insured Crop Disaster Assistance Program, also known as NAP, “This program provides hemp producers coverage against loss due to adverse weather conditions. It’s one of the programs we’re proud of because it provides a great benefit to those who are underserved.”

All growers must have a license to grow hemp and report acreage to the FSA after planting.