Farmers and ranchers across Canada will have three more months to decide whether to sign up for the AgriStability business risk management program.
The federal, provincial, and territorial governments announced on Friday they have agreed to extend the enrolment deadline for the 2025 program year from April 30 to July 31.
“The uncertainty of current market disruptions and tariffs reinforces the importance of our business risk management programs… It provides producers with additional time to evaluate their risk management options,” said Saskatchewan Agriculture Minister Daryl Harrison, in a statement. “I advocated for this change, along with my provincial and territorial counterparts; and I remain committed to furthering this dialogue regarding any potential proposed changes.”
On the eve of the federal election, Agriculture and Agri-Food Canada and new federal Agriculture Minister Kody Blois proposed changes to the margin-based program, aimed at offsetting farmers’ lost income due to tariffs. The changes, which have not yet been implemented or formally agreed to by the provinces, included raising the compensation rate from 80 to 90 per cent and doubling the payment cap to $6 million per farm for the 2025 program year.
“Our government is doing everything it can to support Manitoba producers as they make it through today’s challenges and prepare for the future,” said Manitoba Ag Minister Ron Kostyshyn. “With stress and uncertainties beyond their control, extending this deadline will provide producers additional time to protect their margins from production loss and market disruptions, and help to manage the impact of challenges facing their farm operation.”
AgriStability is funded on a 60/40 basis between the federal and provincial/territorial governments. Payments to farmers are triggered when production margin drop below 70 per cent of an average that is based on the farm’s previous five years of financial performance.
