USDA adds Micro Farm insurance policy
The USDA has rolled out a new insurance program for small farms that sell locally. The Micro Farm policy is based on research directed by the 2018 Farm Bill and the Risk Management Agency will make it available for the 2022 crop year.
It’ll be offered through Whole-Farm Revenue Protection and NO expense or individual commodity reporting will be required. Revenues from post-production costs like washing and packaging commodities and value-added products will be allowed.
The Micro Farm policy is available to producers who earn 100-thousand-dollars or less. For carryover insureds, an average allowable revenue of 125-thouand or less.
RMA research show 85% of producers who sell locally made less than $75-thousand in gross sales.