We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Privacy Terms and Cookie Policy
Shining Light on Farm & Food Policy for 20 Years.
Monday, October 28, 2024
Farmers are getting new options to cover differences in farming practices and crops, and many growers will be able for the first time this year to buy an endorsement to cover a portion of their deductibles.
USDA’s Risk Management Agency (RMA) announced Dec. 2 that it would require farms nationwide to follow the “one in four” requirement for prevent plant coverage.
The incoming Biden administration is expected to take a new look at using crop insurance to encourage farming measures that reduce greenhouse gas emissions and protect water quality, but the effort will face an old challenge — finding the data to prove that the practices don’t increase program losses.
USDA’s Risk Management Agency will move premium dates and boost subsidies under the Livestock Risk Protection insurance program meant to protect producers against price declines.
Crop producers will have more time to verify their organic acreage for crop insurance under a loosened regulatory regime rolled out earlier this week by USDA’s Risk Management Agency.
Last year, about 19.1 million acres were covered under prevented planting provisions in insurance policies and the indemnity payments have already reached almost $4.3 billion.
New questions about the future of the hemp industry emerged after one of the largest CBD processors filed for bankruptcy, but advocates remain bullish about the long-term future — if they can get more answers out of FDA.
Growers paid over $10 billion to insure almost 380 million acres in 2019. By year-end, crop insurance companies paid out almost $7.6 billion to cover losses and the numbers are expected to grow as all claims are finalized.