Home Crop Monitoring Ontario to increase AgriStability compensation rate, retroactive for 2020

Ontario to increase AgriStability compensation rate, retroactive for 2020

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Ontario is transferring forward with modifications to the AgriStability program for farmers within the province, whatever the federal authorities’s help or the settlement of different provinces.

Final November, the federal authorities proposed eradicating the Reference Margin Restrict (RML) and rising the compensation price from 70 per cent to 80 per cent. Due to how this system is designed, so as to transfer ahead a minimum of two of the Prairie Provinces had to additionally agree to the modifications. That didn’t happen, and settlement was solely reached on removing of the RML.

Ontario supported the federal authorities proposal then, and has made the choice to transfer forward with offering the provincial portion (40 per cent) of the compensation price increase, retroactive to the 2020 rising season.

“Ontario farmers can’t wait any longer for improvements to the AgriStability program – so the Ontario government is taking action and also calling on the federal government and other provinces to step up as well,” says Lisa Thompson, newly minted Minister of Agriculture, Meals and Rural Affairs. “By enhancing the AgriStability program, we can better help those Ontario farmers who have been impacted by large income losses from factors outside of their control.”

Over the past 12 months threat administration help for Ontario farmers has elevated by roughly $75 million. The provincial increase to the compensation price and the mixed federal and provincial help yearly via the removing of the RML will lead to roughly $25 million in elevated help for Ontario farmers. That is as well as to the $50 million introduced a 12 months early in annual funding for the Danger Administration Program that was introduced in July 2020.

“Ontario Pork welcomes this important change to AgriStability. Extreme price volatility and processing slowdowns dramatically impacted our industry in 2020,” says John de Bruyn, chair of Ontario Pork. “This change will help the most affected producers recover. We continue to urge the Federal Minister of Agriculture, Marie-Claude Bibeau to find a way to match these funds.”

Extra to come…

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