The U.S. Department of Agriculture (USDA) is updating the camelina pilot crop insurance policy for the 2022 crop year. USDA’s Risk Management Agency (RMA) is modifying the weighted average contract price calculation, which will ensure the producer’s choice of coverage level does not impact their contract price.
“At RMA, we’re responsive to producer needs, and we continue to update our insurance options to ensure they are as effective as possible,” said Eric Bashore, RMA Regional Office Director in Billings, Montana. “This tweak improves our pilot for camelina producers.”
RMA is also making a few other clarifications to the policy, including updating the indemnity calculation to account for cases where a minimum stand payment is included in the contract. The camelina insurance pilot offers Actual Production History coverage, which insures a grower’s historical yield. Only spring-planted camelina grown under contract with a processor is eligible for coverage.
Camelina is an annual in the mustard family, which is primarily used in the production of biodiesel. Camelina is expected to become more popular with an increased demand for renewable fuel sources.