The U.S. Department of Agriculture (USDA) is stepping up to support small and diverse farmers. They've disclosed enhancements to the Whole-Farm Revenue Protection (WRFP) and Micro Farm insurance plans. These updates are a significant step by the USDA’s Risk Management Agency to encourage more farmers to access crop insurance.
Marcia Bunger, the RMA Administrator, shared that these revisions come directly from the feedback of producers. She highlighted that both these plans are essential, especially for certain types of producers such as those into specialty crops, organic farming, and urban agriculture.
For 2024, the WFRP has several new features
- More eligible producers can now aim for 80% and 85% coverage levels.
- Producers have the option to buy catastrophic coverage for specific crops.
- The yield history has been expanded from 4 to 10 years for many crops.
- Single commodity producers will find the policy more budget-friendly.
- Farmers can also decide if WFRP will consider other federal insurance policies when working out premium costs and revenues.
The Micro Farm's 2024 improvements are
- The sales closing date has been shifted to a more convenient time, allowing agents to focus on promoting the program.
- Farmers can now purchase other federal crop insurances alongside Micro Farm.
- Even vertically integrated entities can now opt for Micro Farm.
- An 'Expanding Operations' feature has been added to Micro Farm.
These updates demonstrate USDA's commitment to ensuring that even small and diverse farmers have the best tools at their disposal for risk management.
Photo Credit: gettyimages-dszc
Categories: Minnesota, Crops