AgriStability deadline approaches on April 30
April 3, 2019
By Top Crop Manager
The deadline for Canadian producers to enrol in the AgriStability Program is April 30, 2019. Federal Agriculture and Agri-Food Minister, Marie-Claude Bibeau, and Saskatchewan Agriculture Minister, David Marit, issued a release reminding Saskatchewan producers of the quickly approaching deadline.
AgriStability is a low-cost risk management program offering financial assistance to producers who experience large margin declines due to production loss, adverse market conditions or increased costs. The program, alongside the Advance Payments Program, was mentioned earlier this week by Minister Bibeau in response to the growing concern among western Canadian producers about the Canada-China canola market uncertainty.
AgriStability accounts for a producer’s whole farming operation; not just one commodity. As a margin-based program, AgriStability provides personalized coverage for each farm by using historical information, based on income tax and supplementary information. If a producer’s program year margin falls more than 30 per cent below their reference margin, AgriStability could provide a benefit payment. The payment provides 70 cents for every dollar of benefit triggered.
AgriStability benefit payments are paid out when the program year is complete; however, there is an interim benefit option where producers can apply to receive a portion of their estimated benefit early. The interim benefit can provide added financial support throughout the year, when producers need it most. In the last three program years in Saskatchewan, AgriStability paid benefits of more than $200 million to Saskatchewan producers.
AgriStability is delivered in Manitoba, New Brunswick, Nova Scotia, Newfoundland and Labrador and Yukon by the federal government. For producers in British Columbia, Saskatchewan, Alberta, Ontario, Quebec, or Prince Edward Island, AgriStability is delivered provincially. Producers are advised to visit their respective provincial administrations for more information.
For Saskatchewan producers to enrol in the program, call the AgriStability call centre at 1-866-270-8450 and request a new participant package. This request must be made by April 30, 2019. Producers will be asked a few simple questions over the phone, with no initial requirement of supplying historical farm information. New participants will then have the option of submitting either their previous three years or five years of historical information in order to process their final application.
For producers in other provinces, visit the federal government’s AgriStability site for more information on how to enrol or your respective provincial administration. The deadline for all provinces is April 30, 2019.