The first payments from the Farmer’s Risk Management Premium Fund are going out to Ontario producers this month. Participants in the
Risk Management Program (RMP) for livestock who received program payments for 2013 will receive cheques from the industry-managed fund following the final program payments sent in March.
Industry and government created the innovative premium fund in 2013 to provide additional risk management support when needed. All RMP premiums are deposited into the fund, which is managed by Grain Farmers of Ontario, Beef Farmers of Ontario, Ontario Pork, Ontario Sheep and Ontario Veal. These commodity groups decide each year whether or not to make payments, based on market prices, production costs and the fund balance.
Grain and oilseed producers who received RMP payments for 2013 will also receive premium fund payments this year. Those cheques will be issued in June, after final RMP: Grains and Oilseeds payments are made in May.
Individual payment amounts are based on RMP payments for the program year.
For more information on premium fund payments, read the
Farmer’s Risk Management Premium Fund information sheet or contact Agricorp. Agricorp issues payments on behalf of the Farmer’s Risk Management Premium Fund.