Ontario increases farm risk management cash by $50 million

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File Photo - Wheat harvest in 2017
The Ontario government is expanding the Risk Management Program a year earlier than planned by $50 million for a total of $150 million annually.

The insurance program helps farmers deal with fluctuating market prices, extreme weather events like flooding or drought, and disease. 

About 80 per cent of eligible commercial production in the cattle, hog, sheep, veal, grains and oilseeds, and edible horticulture sectors in Ontario is covered by the provincial Risk Management Program.

Premier Doug Ford is also committing to lobby the federal government for help. Earlier in the pandemic, the federal government committed to a $250 billion farm package which was widely panned by the farm community money for the processing industry instead of the farm community.

 
Applications for the Risk Management Program will reopen today to allow eligible farmers the opportunity to apply to the program. The deadline to apply closes at midnight for the Risk Management Program and AgriStability.
In response to COVID-19, the federal and Ontario governments have added labour as an insured risk to Production Insurance for the 2020 growing season.
Canada and Ontario have also announced up to $10 million of support for beef and pork sectors through AgriRecovery.Ontario has an estimated 49,600 farms that contribute an estimated $7.6 billion annually to the province’s economy.