The U.S. Department of Agriculture’s Risk Management Agency will insure camelina through a pilot program in 2012. It will be available in Montana and North Dakota, and sales will close Feb. 1, 2012.
The USDA has recently shown interest in the camelina crop because of its potential to be used as a biofuel in jet engines. Earlier this year, the USDA also set up two Biomass Crop Assistance Program (BCAP) project areas devoted to developing camelina as biofuel in several states.
The pilot product for camelina was submitted by Great Plains Oil and Exploration, LLC – The Camelina Company and Crop Insurance Systems, Inc.
In this pilot program, only spring-planted camelina grown under contract with a processor will be eligible for coverage. The insured causes of loss will include adverse weather, fire, wildlife, earthquake, volcanic eruption and insect/plant disease. Damage due to insufficient or improper use of pest or disease control measures are not covered.
Coverage levels offered will be from the catastrophic level to 65 percent. Written agreements and prevented planting will not be available for camelina.
Topics Agribusiness
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