The Ontario government is putting another $100 million into its Risk Management Program (RMP) for the province’s farmers.
The increase in the government’s annual funding to $250 million from $150 million was announced Tuesday by Rob Flack, Minister of Agriculture, Food and Agribusiness. The increase will “support farmers in responding to market challenges while boosting their long-term business confidence and competitiveness,” a government statement said.
The $100 million increase will be phased in over a three-year period, starting with a $30 million increase for the 2025 program year, leading to an annual total of $250 million by the 2027 program year. Producer premiums will remain at 35% of government funding, and the current phase-in of this will continue.
Administered by Agricorp, the Ontario RMP helps producers manage risks beyond their control, like fluctuating costs and market prices.
Today’s investment augments a $50-million increase in annual RMP funding announced by the government back in 2020 and builds on past reforms which allowed unused program funds to be rolled over to future year claims, allowing the program to be most responsive in times of greatest need.
The increase in RMP funding comes at a time with the Canadian agricultural industry in general facing huge uncertainty amid new President Donald Trump’s threat to levy tariffs against American imports of Canadian goods. Trump has said the tariffs could come as early as Feb. 1.
“Our government promised farmers we would continue to expand and enhance RMP, and with this historic investment, we have delivered,” Flack said. “To Ontario’s world-class farmers, know that our government remains focused on strengthening your resilience and competitiveness, no matter what headwinds may come our way.”
Jeff Harrison, chair of Grain Farmers of Ontario, welcomed the increase in RMP funding, calling it a “necessary and welcome” step in helping farmers plan for the coming years with confidence.
Source : Syngenta.ca