Changes to the AgriStability Program

Changes to the AgriStability Program

Changes to the AgriStability program were announced at the March 25 Federal-Provincial-Territorial (FPT) meeting where an agreement was reached to remove the reference margin limit (RML). Producers are now guaranteed that the RML used in their program calculations will never be less than 70% of their conventional reference margin. This change will help producers who operate within a low-cost expense structure, which would have resulted in a low reference margin. It will make no difference for producers whose reference margins were not limited.

AgriStability is one of the business risk management (BRM) programs under the Canadian Agricultural Partnership designed to protect producers against large declines in farming income for reasons such as production loss, increased costs, and market conditions. 

These changes will benefit some canola growers, and while we are disappointed that other changes that SaskCanola has been advocating for on behalf of farmers were not forthcoming, we thank Minister Bibeau for her efforts to bring these improvements forward

SaskCanola also applauds the efforts of Minister Marit for working with the federal government to make AgriStability a better business risk management program for farmers. We understand that because Saskatchewan has more than 40% of Canadian farmland and a relatively small population, the program is far more expensive for Saskatchewan than any other jurisdiction in Canada. We are thankful that Minister Marit was able to find the funding to support this program during a time of tremendous financial constraint. Minister Marit previously advocated for the removal of private insurance (i.e., hail insurance) as a revenue source, and that change was implemented in 2020.

We look forward to continue working with Minister Marit’s office and the federal government to develop new business risk management programming that will serve farmers effectively in the next agriculture policy framework.

SaskCanola encourages farmers to evaluate AgriStability as part of their risk management plan and if beneficial to their farming operations, to sign up with SCIC before the deadline of June 30. For more information, see the SCIC website.

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