June 26, 2019
Producers now have until July 2 to enrol in
AgriStability. AgriStability can help if a producer's whole farm income falls below 70 per cent of their recent average. AgriStability covers a variety of risks and there are no planting deadlines.
Whether an income drop is due to inability to plant, production loss, weather challenges or severe market volatility, AgriStability has producers covered.
Recent changes to AgriStability under the Canadian Agricultural Partnership make it more responsive to severe economic losses. Producers are now guaranteed a reference margin of at least 70 per cent of their average net income – no matter how low their expenses are. This means an increased potential for AgriStability payments when producers really need it.
A vital lifeline
AgriStability has been a vital lifeline for Ontario farm businesses in times of disaster. According to Agricorp's annual customer survey, a majority of customers agree that AgriStability is vital in helping stabilize their income despite risks beyond their control.
Here are some recent examples of how AgriStability has helped customers:
- When farmers faced
falling livestock market prices in 2015 and 2016, AgriStability paid them $80 million.
- When grape growers faced a long, cold winter in 2015 that led to
low yields, AgriStability paid one in four grape growers.
- When field crop farmers faced
extremely dry weather in Haldimand County in 2016, AgriStability paid them double the average payment in recent years.
- When growers faced
rising costs for greenhouse operations between 2015 and 2017, AgriStability paid each eligible customer an average of $250,000 per year.
How to enrol for 2019
Ontario farmers still have time to apply for or renew their AgriStability coverage.
Existing customers have received their renewal packages, which include current coverage details. To renew, simply review the documents, inform Agricorp of any changes, and pay the fee by the due date on the invoice.
Farmers who are new to AgriStability can complete a New Participant Form by July 2*. The form is available on agricorp.com or by calling Agricorp. Once producers are signed up for AgriStability, they will automatically receive a renewal package in future years; they don't need to sign up again.
For more information about AgriStability, visit agricorp.com or read the information sheet.
Still have questions? Give Agricorp a call. AgriStability specialists are here to help.
*For 2019, the AgriStability enrolment date is extended from April 30 to July 2. Farmers can enrol in AgriStability until July 2 without any additional fees or penalties. See more details in Farmers have more time to enrol in AgriStability.