Farmers nationwide have had a rough couple of years, partly because of wild weather: derechos in the Midwest, wildfires in the South and West, and hurricanes in the Southeast. But while most farmers can get disaster aid or crop insurance payouts, cannabis farmers have access to neither, and it's endangering the fledgling industry.
Nationwide cannabis cultivation was authorized in the 2018 Farm Bill. But "because federal law defines marijuana as an illegal, dangerous drug, neither federal agencies nor conventional banks and major insurance companies will work with marijuana businesses even if they are legal under state law," Sophie Quinton reports for Stateline. "Nor are marijuana businesses eligible for federal disaster relief, such as small business loans."
Though cannabis growers can buy crop insurance from local providers, one farmer told Quinton he couldn't find a policy worth the money. "Producers and industry supporters now are pushing for changes to federal relief law and seeking state disaster aid," Quinton reports.
from The Rural Blog https://ift.tt/2GTEFrK Cannabis farmers stuck without disaster aid or crop insurance because of federal law - Entrepreneur Generations
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