Risk Management Program (RMP)
Production Insurance and the
Risk Management Program (RMP) work together to create an effective risk management program for Ontario producers. Each program addresses different risks:
- RMP helps producers offset losses caused by low grain and oilseed prices.
- Production Insurance protects producers from yield reductions and crop losses.
RMP helps producers manage risks beyond their control, like fluctuating costs and market prices. The program is available for the cattle, edible horticulture, grain and oilseed, hog, sheep and veal sectors.
Starting in 2012, participation in Production Insurance is an eligibility requirement for RMP: Grains and Oilseeds.
Advance Payments Program
The Advance Payments Program, delivered by the Agricultural Credit Corporation (ACC), is a federal program that provides low-interest cash advances to farmers.
Advances up to $1 million are available, with the first $250,000 being interest free and the remainder (up to $750,000) at the prime interest rate. The loan can be paid off as the current crop is sold or within 18 months after the program start date of November or April (depending on the commodity).
Crop farmers must participate in AgriStability or Production Insurance or have the inventory on hand to qualify for the program.
For more information about the Advance Payments Program, visit the ACC website or call 1-888-278-8807 to apply.