Farmer growing hemp and checking plants growth, agriculture and environment concept
The U.S. Department of Agriculture (USDA) announced the availability of two programs that protect hemp producers’ crops from natural disasters.
A pilot hemp insurance program through Multi-Peril Crop Insurance (MPCI) provides coverage against loss of yield because of insurable causes of loss for hemp grown for fiber, grain or Cannabidiol (CBD) oil.
Also available is the Noninsured Crop Disaster Assistance Program (NAP), which protects against losses associated with lower yields, destroyed crops or prevented planting where no permanent federal crop insurance program is available.
Farm Production and Conservation Undersecretary Bill Northey said in a news release, “Hemp offers new economic opportunities for our farmers, and they are anxious for a way to protect their product in the event of a natural disaster.”
Producers may apply now, and the deadline to sign up for both programs is March 16, 2020.
