Still time to decide on AgriStability and RMP

June 13, 2022

The last day to finalize decisions for AgriStability and RMP: Grains and Oilseeds coverage is extended to June 30, helping Ontario farmers in a time of uncertainty.

The extended date this year for each program gives customers more time to evaluate their coverage decisions. By participating in AgriStability, RMP: Grains and Oilseeds, and other programs that Agricorp delivers, farmers can get comprehensive coverage that meets their needs when they need it most.

The federal and provincial governments offer a suite of risk management programs to help farmers manage risks and challenges. These programs are cost-shared with government, making them affordable options for farmers looking to protect their businesses.

AgriStability – for large income declines

The deadline for 2022 AgriStability applications and fee payment is extended this year to June 30, 2022. The extension gives new and existing AgriStability customers more time and flexibility to assess and consider how AgriStability can help manage evolving risks.

This year, farmers are facing high input costs and animal disease outbreaks, as well as the potential risks of production losses and market uncertainties. In addition, many farmers in northwestern Ontario are currently facing wet conditions that could make it difficult to plant. For farmers thinking they may have large income declines, that is where AgriStability can help.

AgriStability protects the whole income of the farm and is available for all farms, including those with supply-managed commodities.

Farmers needing cash flow sooner can apply for a 2022 AgriStability interim payment, which is an advance on a portion of a farmer’s estimated final payment.

To sign up for AgriStability, submit a New Participant Form.

The June 30 extension is in addition to recent program enhancements to improve AgriStability coverage for Ontario farmers, including the removal of the reference margin limit and an increase to the provincial compensation rate.

RMP: Grains and Oilseeds – for fluctuating costs and market prices

The deadline for existing customers to make RMP: Grains and Oilseeds coverage changes for 2022 is also extended this year to June 30, 2022. This gives farmers more time to make coverage-level decisions for their farms. If customers do not make changes, their coverage will be renewed at the same level as last year.

RMP is designed to work like insurance and helps farmers manage risks beyond their control, such as fluctuating costs and market prices.

Payments are made if a crop's market price falls below the annual support level. The support level is based on the industry-average cost of producing a crop (target price) and the chosen coverage level.

To support farmers, the Government of Ontario is keeping 2022 RMP: Grains and Oilseeds premium rates the same for the third year in a row.

Since June 30 is also the deadline to report acres for Production Insurance, farmers can save time by calling Agricorp to make any RMP: Grains and Oilseeds coverage changes and report their acres – all in one phone call.

Customers not making changes to their RMP: Grains and Oilseeds coverage can report their Production Insurance acres online. By reporting Production Insurance acres online, farmers can avoid call-wait times and can report any day, any time, from anywhere.

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