Hemp Farmers Advocate for Legislation to Have Crop Insurance

Hemp-derived product sales are expected to hit $1 billion by 2020, yet the U.S. farmers who are adding this valuable plant to their crop rotation are still denied crop insurance because of cannabis’ federal Schedule 1 status. But a bill introduced last year might change all that.

HR3530, or the Industrial Hemp Farming Act of 2017, amends the Controlled Substances Act to exclude industrial hemp from the definition of “marihuana,” and for other purposes. Currently, the CSA excludes certain parts of the hemp plant, but does not exclude the entire plant, which means that hemp farmers abiding by state-sanctioned hemp programs are out of luck when it comes to getting insurance for their crop.

Spring Hope, North Carolina-based Hemp, Inc., partners with tobacco and other farmers throughout the state who are looking to introduce hemp into their crop rotation; many farmers across America are seeking new ways to keep the family farm profitable. The hemp crop can produce a profit margin four to six times that of tobacco in North Carolina, Hemp, Inc. executives say.

Source: Farm Forum

ProAg Quick Links

Agent Toolbox Grower Toolbox Careers

ProAg News

Conaway Defends House on SNAP

House Agriculture Committee Chairman Michael Conaway, R-Texas, said at a forum Tuesday that the House vote on going to conference with the Senate on the farm bill will be held Wednesday or Monday....

Trump Admin Urges Court to Halve WOTUS Litigation

In its latest maneuver in the complex litigation over the contentious Clean Water Rule, the Trump administration is arguing it makes little sense for courts to weigh the legality of the Obama-era regulation....
Get ProAg updates via email
Your browser is out-of-date!

Update your browser to view this website correctly. Update my browser now