May 19, 2021
|Check out new key dates for 2021…||
Production Insurance Last day to apply or make changes (spring-seeded crops)||✔|
Production Insurance Last day to
AgriStability Last day to apply and pay fee||✔|
Managing risks is more important than ever
Government programs help Ontario farmers manage the business and agricultural risks they face every day, but these programs may be more important than ever as everyone is dealing with additional challenges and uncertainties. Programs are designed to cover different risks:
Production Insurance – yield reductions and quality losses caused by adverse weather, disease, wildlife and insect infestation. For the 2021 program year, coverage has been extended for production losses caused by on‑farm labour disruptions due to COVID-19.
AgriStability – large declines in net income caused by production losses, increased costs or market conditions. This program covers the income of the whole farm instead of one commodity at a time. Removal of the reference margin limit (RML) is effective starting with the 2020 program year. This increases the level of support for farms with lower allowable expenses.
Risk Management Program (RMP) – fluctuating costs and market prices. RMP is available to producers of
grains and oilseeds,
veal. Agricorp is sending renewal packages a bit later than usual this year. The later timing will not have an impact on coverage. Customers do not need to do anything at this time, including reporting their sales for RMP for livestock. Stay tuned to agricorp.com for the latest updates.