New Crop Insurance Proposal Advanced

New Crop Insurance Proposal Advanced

RMA will look at crop insurance for biofuel feedstocks.

Agriculture Secretary Tom Vilsack says USDA will soon seek proposals to study the feasibility of providing crop insurance to producers of biofuel feedstocks, including corn stover, straw and woody biomass. These feasibility studies, funded by the Risk Management Agency will join research efforts already underway for energy cane, switchgrass and camelina. 

"Providing additional risk management tools for American farmers to produce advanced biofuels crops is an important step toward developing a thriving biofuels industry and reducing our dependence on foreign oil," Vilsack said. "This will help create new jobs and opportunities for those who live in rural America." 

The Energy Independence and Security Act of 2007 established a mandate that the American economy use 36 billion gallons of renewable transportation fuel per year in its transportation fuel supply by 2022.  Of that, 20 billion gallons are targeted to come from sources such as switchgrass, energy cane, woody biomass and other non-food feedstocks.

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