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USA - No hemp crop insurance coverage available yet

A Department of Agriculture official says the crop insurance coverage for hemp is not ready.

Martin Barbre, USDA Risk Management Agency administrator, told the crop insurance industry this week that agents could discuss crop insurance with hemp farmers, but must tell them “there is no coverage at the present time.”

The 2018 farm bill removed hemp from the list of controlled drugs, and USDA says it will help growers of hemp, including through crop insurance.

However, getting a program set up takes time, and Barbre did not say when crop insurance might be available for crop insurance, according to the Hagstrom report.

He said the Risk Management agency cannot work on the issue until the Agricultural Marketing Service develops regulations for producing hemp.

Meanwhile, other insurance changes from the farm bill include the new dairy insurance program, which Barbre said is in its infancy, but has “really taken off.”

Source – http://www.drgnews.com