RMP: Grains and Oilseeds helps Ontario producers offset losses caused by low commodity prices and rising production costs. Payments are made if a crop's market prices fall below the annual support level. The support level is based on the industry average cost of producing a crop (target price), which is calculated annually by the Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA).
This plan was designed in consultation with representatives of the grain and oilseed sector and the Ontario Federation of Agriculture.
RMP funding increased to $150 million
The Ontario government has announced an increase in available funding for the Risk Management Program (RMP), from $100 million to $150 million, starting with the 2020 program year. RMP helps farmers manage risks beyond their control, like fluctuating costs and market prices.
Read more in RMP funding increased to $150 million.
Premiums held at 2020 levels
To support farmers, the Government of Ontario is keeping 2021 premium rates consistent with 2020 premiums this year.
RMP is provincially funded only, meaning the Ontario government funds its traditional 40 per cent share. Producers pay part of the premium cost and none of the administration cost. Administrative costs are fully funded by the provincial government. The 40 per cent funding is reflected in the payment calculation and premium rates.