March 25, 2020 | Updated: May 14, 2020
Ontario farmers who apply for a 2020
AgriStability interim payment will now receive 75 per cent of their estimated final payment, the Ontario government has announced.
Previously, farmers could only receive 50 per cent of their estimated final AgriStability payment. The change is in response to the challenging situation many farmers are currently facing.
AgriStability interim payments can provide customers with cash flow now, when it is needed most.
Ontario farmers in AgriStability can apply for an interim payment. Here's how:
Agricorp will contact customers who have already received a 2020 AgriStability interim payment to determine if they want to receive an increase in their interim payments.
AgriStability is designed to cover large declines in net income caused by production loss, increased costs or market conditions.
AgriStability has helped many Ontario farmers in recent years. For example, when livestock farmers faced falling market prices in 2015 and 2016, AgriStability paid them $80 million. Also, AgriStability made significant payments to growers who faced rising costs for greenhouse operations from 2015 to 2017.