Now that hemp is federally legal (since it is, ya know, NOT marijuana!), institutions are starting to unlock access to basic business necessities, like insurance for hemp farmers.
In the past, hemp farmers haven’t had access to the Federal Crop Insurance Corporation because, well, marijuana, according to Westword. The 2018 Farm Bill, however, changes things for some farmers. In 2014, a pilot program was enacted to allow farmers in certain states to grow hemp (but just for research). Starting in 2020, those who were involved in the pilot program may now sign up for the United States Agriculture’s Whole Farm Revenue Protection program insurance. The program will cover up to $8.5 million in hemp, fiber, flower, and seeds – a relief, we’re sure to the hardworking farmers just trying to make a living
“Numerous producers are anxious for a way to protect their hemp crops from natural disasters,” USDA Risk Management Agency administrator Martin Barbe said in a statement. “The WFRP policy will provide a safety net for them.”
Hopefully, we’ll see those opportunities expand since, AGAIN, hemp is a legal plant and is NOT marijuana. Hence it will not get you high. It’ll only get you some really nice lotion or paper products.
Amanda Push
