Welcome to our weekly roundup of CBD and hemp-related legal and regulatory news:
The USDA is expected to conduct its first hemp acreage and production survey. Sent to those identified as hemp producers, the survey will collect information on the total planted and harvested area, yield, production and value of hemp in the country. Survey data will aid the USDA Agriculture Marketing Service in administering and monitoring states and Indian tribes permitted to grow domestic hemp. To produce the crop, state and tribal hemp production plans must be approved by the USDA. Trib Live
Given weather conditions, water shortages and wildfires, crop production is proving risky in all industries, including hemp. However, securing insurance for a crop that was federally illegal for so long has been difficult. Jeff Kleid, owner of Calif.-based Elite Risk Insurance Solutions, says the better hemp farmers know the land and communicate their needs with the insurance agent, the better off they'll be in terms of purchasing the right insurance. “Probably the best solution for the larger farmer is a hybrid between traditional indemnity or parametric insurance coverage and surrounding that with a dollar-one captive insurance solution,” he added. Private policies, he noted, can include:
- Living plant coverage;
- Product liability;
- Goods in progress;
- Business interruption coverage;
- Equipment coverage;
- Inventory; and
- Finished stock.
Over the past year since the federal farm bill, the number of certified hemp growers in Nev. fell from 213 to 116. The explosion in hemp farming prior to the federal farm bill was happening in every corner of the country. The total acreage of hemp planted nationwide also grew from 32,000 acres to 146,000. “There was a massive oversupply,” said hemp farmer Adrienne Snow. “I would say the majority of people who jumped in 2019 … were one and done. However, that oversupply is still being sold on the market today.” As a result, prices have plummeted. Nevada Appeal
Hemp processors will remain under the purview of the Wisconsin Department of Agriculture, Trade and Consumer Protection (DATCP) authority for consumer and food products, however, farmers will need to work directly with the USDA Domestic Hemp Production Program for everything else beginning in 2022. With funds drying up, Wis. couldn't qualify to manage its own program under USDA requirements, so the state relinquished regulation to the federal agency. Hemp Today
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