Hemp

The Hemp Actual Production History (APH) Multi-Peril Crop Insurance (MPCI) program was developed by AgriLogic Consulting’s AgVersity analytical team under the Federal 508(h) AgriLogic Consulting, LLC and approved for implementation by the Federal Crop Insurance Corporation (FCIC) Board of Directors on December 19, 2019. The program was offered in select counties in 21 states for the 2020 crop year and expanded to 25 states for the 2021 crop year. The program is be available through participating Approved Insurance Providers (AIP) with a Sales Closing Date each year of March 15th.

The Hemp APH policy provides producers with a much-needed risk management solution for a rapidly expanding industry including coverage for hemp grown for fiber, grain, or cannabidiol (CBD). The policy insures loss of production due to multiple natural perils, similar to other major industrial food, feed, and fiber crops; however, coverage for replant, prevent planting, or required destruction of the crop due to tetrahydrocannabinol (THC) levels above that allowed by regulators will not be provided by the program.

To be eligible for coverage, growers are required to have a minimum of one year of documented growing experience and be compliant with all applicable regulations and with regulatory agencies governing hemp production for their area. In addition, the crop must be grown under an acceptable processor contract and other rules as defined in the Hemp APH MPCI policy provisions. To sign up for the Hemp APH MPCI program or to get a quote, contact your local crop insurance agent who is a licensed with an Approved Insurance Provider (AIP) of the Federal Crop Insurance Program. If you do not have an agent you may locate one on the USDA RMA’s website: https://prodwebnlb.rma.usda.gov/apps/AgentLocator/#/.

 

We are grateful for the support of the many growers, processors, and industry members who shared their knowledge and information to make MPCI coverage for hemp a reality. Future industry participation is critical to ensure subsequent crop year expansion and enhancement initiatives truly reflect this rapidly changing industry and we would be greatly appreciative of any insight or data you are willing to share. You can contact us at: Esta dirección de correo electrónico está siendo protegida contra los robots de spam. Necesita tener JavaScript habilitado para poder verlo.

 

AgriLogic's Hemp Q&A

 

For more information please visit the United States Department of Agriculture (USDA) Risk Management Agency (RMA) website:

Hemp Training Module - Grower Version (download pdf)