The Ontario government is increasing annual funding for its Risk Management Program (RMP) from $150 million to $250 million, following an announcement at Eden, Ont. on Tuesday by Minister of Agriculture, Food and Agribusiness, Rob Flack.
“Our government promised farmers we would continue to expand and enhance RMP, and with this historic investment, we have delivered,” said Flack.
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 per cent of government funding, and the current phase-in of this will continue.
The RMP program has gone through several updates since 2020. In that year, the Government of Ontario added $50 million the program, bringing the total fund to $150 million, and made changes that allowed unused program funds to be rolled over to future year claims.
Ontario producers of cattle, hogs, sheep, veal, grains and oilseeds, as well as edible horticulture are all eligible for risk management program coverage to help manage risks beyond their control, such as fluctuating costs and market prices. RMP is delivered by Agricorp, an Ontario crown corporation.
“The Government of Ontario understands that agriculture is the best investment for Ontario and this additional support for risk programs underscores that. Agriculture is the foundation of society and one of the core pillars of our economy – providing one in eight jobs in Canada and grain farming generating more than $4 billion in production value,” says Jeff Harrison, chair of Grain Farmers of Ontario.
Grain Farmers of Ontario, along with other non-supply managed farm groups including Ontario Pork, Ontario Fruit & Vegetable Growers, Beef Farmers of Ontario, Veal Farmers of Ontario, and Ontario Sheep Farmers, has consistently been asking the government for a $100 million increase to RMP.
“Today’s historic investment in the Ontario Risk Management Program could not come at a better time given the uncertainty and escalating risks facing farm operations. This is without a doubt the most important investment the province could make for our sector, and one that will serve to support the security of Ontario farms and Ontario food production for many years,” says Craig McLaughlin, president, Beef Farmers of Ontario.