April 29, 2024
Ontario nursery growers potentially affected by the box tree moth now have more flexibility in
AgriStability:
- The AgriStability application deadline is extended from April 30 to May 17, 2024 for nurseries growing boxwood (Buxus species), euonymus (Euonymus species), or holly (Ilex species). All other growers have until April 30, 2024 to apply.
- Any nursery grower in AgriStability who is affected by the box tree moth can apply for an interim payment to get up to 75% of their estimated final payment. An interim payment is an advance on the estimated AgriStability payment and can provide cash flow sooner, when it's needed most. Previously, growers could get up to 50% of their estimated final payment.
The deadline extension and increased interim payments are in response to the challenges facing the nursery sector.
To apply for AgriStability, submit a
New Participant Form.
To apply for an interim payment, submit an
Interim Payment Application.
Know the facts about AgriStability
Example
Here’s what happens when a nursery with a $1,000,000 average net income (reference margin) triggers a payment.
AgriStability protects the nursery when its net income falls below 70% of their average net income (the payment trigger).
- Payment trigger $700,000
- The AgriStability payment $280,000
- The nursery’s net income this year (production margin) #350,000
- Shortfall (margin decline) $350,000
Each year, nursery growers face risks, such as fluctuating market prices, increased costs, and production losses.
Know the facts about how AgriStability can help.
-
Compensates nursery growers for large declines in farm income. See the example
-
Payments are higher with the new 80% compensation rate
-
Helps with cash flow when it’s needed most through interim payments
-
Only costs $315 to cover $100,000 of average net income (reference margin)
-
Has
proven to respond in challenging times.
Check out AgriStability Video Shorts
Looking for a simple, concise explanation of how AgriStability works? AgriStability Video Shorts can help.
These short videos provide an easy way to learn about the key elements of AgriStability, including:
- Allowable income and expenses
- Production margins and reference margins
- How payments are calculated
To watch these videos, visit the AgriStability –
How it works page on agricorp.com.
AgriInvest offers government contributions
Nursery growers can also get support from AgriInvest.
AgriInvest is a savings account with matching government contributions. Growers can withdraw funds at any time to lessen risks or make other investments.
Each year, nursery growers can deposit up to 100% of their Allowable Net Sales, with the first 1% matched by governments, up to $10,000 per year.
In Ontario, AgriInvest is delivered by
Agriculture and Agri-Food Canada (AAFC).
