USDA has released a new insurance option that is designed specifically for producers with small farms who sell locally.
The new Micro Farm policy simplifies record-keeping and covers post-production costs like washing and value-added products, according to USDA’s Risk Management Agency.
The policy is offered through Whole-Farm Revenue Protection and does not require expense or individual commodity reporting, and it will consider revenue from post-production costs as allowable revenue.
The Micro Farm policy is an option for producers who have an operation that earns an annual revenue of $100,000 or less, or $125,000 for carryover insureds. For more information, visit rma.usda.gov.
