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USDA Expands Multi-Peril Crop Insurance For Hemp Producers
The U.S. Department of Agriculture (USDA) Risk Management Agency (RMA) has announced an expansion of the pilot Multi-Peril Crop Insurance (MPCI) plan for hemp that will take effect in the 2021 crop year.
MCPI is the most common form of the federal crop insurance programme in the USA that insures against crop yield losses from all natural perils such as weather, fire and pestilence by enabling farmers to insure a certain percentage of historical crop production.
While delivered by private companies, MPCI is reinsured by the federal government.
The new states to be included for MPCI coverage are Arizona, Arkansas, Nevada and Texas – but only select counties within each. Additionally, 13 new counties are being included in states with existing coverage.
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