USDA RMA Announces Expansion of WFRP Crop Insurance Program
The United States Department of Agriculture Risk Management Agency or USDA RMA announced that the Whole-Farm Revenue Protection or WFRP coverage is available for industrial hemp crops now. The WFRP program is typically used for specialty and organic crops.
This will be the first time that crop insurance has been available for industrial hemp farmers. The program is expected to be available to farmers by the year 2020.
This is an exciting announcement for hemp farmers across the country with the demand for CBD oil continuing to grow exponentially. To be eligible for the program however farmers must meet some eligibility requirements laid out by the USDA RMA.
Industrial Hemp WFRP Eligibility Requirements
For a grower to qualify for the crop insurance program, the hemp that is being grown must be for the fiber, flower, or seed. Availability is limited to farmers who are participating in a valid pilot program within their home state.
According to the USDA news release:
“Industrial hemp Producers can obtain WFRP coverage for hemp now if they are part of a Section 7606 state or university research pilot as authorized by the 2014 Farm Bill. Other producers cannot obtain coverage until a USDA-approved plan is in place.”
Other eligibility requirements require that farmers be in compliance with the rules of the respective state’s pilot program. See our article on states with pilot programs for more information on those requirements.
Future of Crop Insurance for Hemp Farmers
The USDA RMA also stated that in the future there could be even more of their crop insurance programs & additional coverage options may also soon become available to help hemp farmers.
Altogether this was a positive announcement for hemp growers and cannabis industry advocates alike. More crop insurance should help attract even more producers and help to keep up with demand.
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References
- The United States Risk Management Agency Portal on USDA.gov – https://www.rma.usda.gov/en
- USDA.gov News Release – “Hemp Crop Insurance Coverage Available for 2020” – https://www.rma.usda.gov/News-Room/Press/Press-Releases/2019-News/Hemp-Crop-Insurance-Coverage-Available-for-2020#https://www.rma.usda.gov/News-Room/Press/Press-Releases/2019-News/Hemp-Crop-Insurance-Coverage-Available-for-2020
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