Spring is here and it’s time once again to think about the programs that will help you best manage the farm business risks you may encounter this year.
When making your decision about program coverage for the year ahead, it is important to carefully think through all the risks your farm faces. The federal and provincial governments provide a comprehensive suite of business risk management programs to help you mitigate your risks. Different programs cover different risks:
The risks? | ?Program options |
Unexpected, large declines of income | ?AgriS?tability – Protects the farm income as a whole instead of one commodity at a time. It's an affordable option:producers can get coverage for a low fee of $315 for every $100,000 of their reference margin. |
Small declines in income | AgriInvest – Helps producers recover from small income shortfalls, or to make investments to reduce their farm’s risk. |
Low yields and crop losses caused by weather, wildlife, infestation and disease | Production Insurance – Guarantees producers a level of production. More than 90 yield, dollar value or acreage loss plans are available. |
Fluctuating commodity prices | Risk Management Program – Helps producers offset losses caused by low commodity prices and rising production costs. It’s available for grains and oilseeds, cattle, hogs, sheep, and veal |
General farm losses or expenses | SDRM: Edible Horticulture – Helps producers mitigate general risks associated with their farm business. |
AgriStability and RMP
Starting with the 2015 program year, AgriStability participation is no longer an eligibility requirement for participating in the Risk Management Program (RMP).
Producers maximize their coverage by being enrolled in both AgriStability and RMP. These programs work together to create an effective risk management plan for Ontario livestock producers.
By participating in both programs, you take full advantage of the protection available from government risk management programs. You could receive an AgriStability benefit and an RMP payment in a given year.
RMP and Agr??iStability: how they work together
Making it easier to do business with Agricorp
Simpler, streamlined AgriStability – The AgriStability form is easier to complete and has been condensed to half of its original size. A new renewal process has been introduced that more closely aligns with other business risk management programs you may participate in.
Direct Deposit – A new direct deposit option was introduced in March to provide you with a convenient, fast and secure way of receiving payments directly into your bank account.
More online options – Sign in to agricorp.com to see the programs you’re enrolled in, update your contact information, submit program information such as sales reports and view documents – all in one place.
Source: OntarioPork