Completed Project Report


Managing Production, Financial, and Marketing Risks: Producer Education on Contract Development and Crop Insurance Decisions in Industrial Hemp Production

  • Award Amount: $53,967
  • Regional Center: Northeast Extension Risk Management Education Center
  • Grant Program: 2020 Producers Underserved by Crop Insurance
  • Project Director: Paul Goeringer
  • Email: lgoering@umd.edu
  • Organization: University of Maryland

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Project Overview

Many industrial hemp growers have a limited background in agricultural production, contracting, and the use of crop insurance products. As such, this project seeks to address two major concerns that are influencing the development of the industrial hemp industry. First, our legal team developed producer/processor contract checklist for three types of industrial hemp production (CBD/extract, fiber, and seed). The second component provided producer education on the three available crop insurance products for industrial hemp - Whole Farm Revenue Protection (WFRP), the pilot program for Multi-Peril Crop Insurance (MPCI), and Non-insured Disaster Assistance Program (NAP).  A contract with a processor is often a requirement for risk management tools so this outreach was invaluable to those new growers trying to understand what to look for in a contract and how to get crop insurance.  Overall the project provided industrial hemp producers, crop insurance agents, and processors with contracting and crop insurance information and resources to assist with mitigating production, financial, and marketing risk. 

Number of Participants: 528

Outcomes

Project Steps

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EDUCATIONAL MATERIALS

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DELIVERY AREA

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