Canada’s Ministers of Agriculture agree to implement a key improvement to the AgriStability program to better support farmers
During today’s virtual meeting of Canada’s federal, provincial, and territorial (FPT) Ministers of Agriculture , Ministers agreed to remove the reference margin limit for AgriStability, one of the business risk management (BRM) programs under the Canadian Agricultural Partnership.
The removal of the reference margin limit will be made retroactive to the 2020 program year. In addition, the deadline for producers to enroll in the 2021 program year will be extended to June 30, 2021.
Today’s meeting was convened to discuss key changes to the program, in order to better support farmers facing challenges. Removing the reference margin limit could increase the overall amount AgriStability pays out to farmers by approximately $95 million nationally.
The objectives in making this change are to help simplify the program and help farmers in need by increasing the level of support for agricultural operations with lower allowable expenses. This change is an important step towards making the program easier to understand, more bankable, more accessible, and more-fair for some sectors, who might have been left out of the program under the previous rules.
For more information please visit: https://www.canada.ca/en/agriculture-agri-food/news/2021/03/canadas-ministers-of-agriculture-agree-to-implement-a-key-improvement-to-the-agristability-program-to-better-support-farmers.html