The Alberta and federal governments have decided to reopen the 2023 AgriStability program to help producers affected by drought and wildfires since the original April 30 enrolment deadline.
Farmers and ranchers can now sign up for AgriStability through Alberta’s Agriculture Financial Services Corporation (AFSC) until September 29.
“Our government has listened to farmers and ranchers who have been impacted by wildfires and drought. We know they need support options to make it through this growing season. Allowing late participation in AgriStability will enable them to reassess their business risks and make an informed decision about signing up to protect their operations and livelihoods,” notes RJ Sigurdson, Alberta Minister of Agriculture and Irrigation, in a news release.
AgriStability — one of the main business risk management programs under the Sustainable Canadian Agriculture Partnership — compensates margin declines greater than 30 per cent at 80 cents for every dollar of decline, which is an increase from the previous 70 cents. The government says payments to producers who sign up through late participation will be reduced by 20 per cent to encourage proactive enrolment.
“Alberta’s producers have shown great resiliency and the ability to rise to the extreme challenges brought on by wildfires and drought. Risk management programs like AgriStability are essential to help producers manage these threats to their operations, and we want to ensure they have the time they need to make decisions that are right for their business,” says federal Agriculture Minister Lawrence MacAulay.
The Alberta government has also taken the first step toward having an AgriRecovery disaster assistance program. The province submitted a formal request to the federal government for an AgriRecovery assessment in early July.