AgriStability protects producers from large declines in their farming income caused by production loss, increased costs or market conditions.
Your allowable income and expenses for all the commodities you produce are used to calculate your margins, protecting the income of your whole farm.
Program changes for 2013
As part of the federal, provincial and territorial Growing Forward 2 agreement on agricultural policy, changes have been made to AgriStability for 2013:
- One coverage level of 70 per cent
- Simplified payment rate of 70 per cent of covered loss
- Higher payment rate when your production margin falls below zero
- Reference margin is an olympic average of your recent production margins or your average adjusted expenses in the same three years, whichever is lower
- Production Insurance premium adjustment is no longer calculated
- Lower program fee to reflect the new coverage level
Information about other initiatives of Growing Forward 2 can be found on the Ontario Ministry of Agriculture and Food’s website.
For producers who are currently working on 2012 Year-end applications, information about the 2012 AgriStability program can be found on the AgriStability publications page.
Calculating your margins
The program compares your production margin (net income this year) to your reference margin (the average of your recent production margins). If your production margin falls below your payment trigger (70 per cent of your reference margin,) AgriStability will pay you 70 percent of the difference.
If you participate in AgriStability, there are only three major requirements each year:
- Pay your fee
- Submit your application
- Report you tax information
AgriStability is part of the suite of programs established under the Growing Forward 2 agreement on agricultural policy. The costs of AgriStability are shared by the federal and provincial governments on a 60:40 basis. In Ontario, AgriStability is delivered by Agricorp.