A two-month extension is now granted to the AgriStability enrollment deadline for the 2019 program year – without penalty – from April 30 to July 2. Federal and provincial governments have agreed to this exceptional step to manage the impact of current market disruptions.
Federal agriculture and agri-food minister, Marie-Claude Bibeau, announced the change on May 1.
As of April 21, 2019, approximately 51,000 producers across Canada were enrolled in AgriStability for the 2017 program year (the last year for which data is available).
Farmers experiencing financial challenges are encouraged to access assistance available under the Canadian Agricultural Partnership’s suite of business risk management (BRM) programs to help them manage risk due to severe market volatility and disaster situations that are largely beyond their capacity to manage. Farmers enrolled in AgriStability may receive support should they experience a large margin decline.
Farmers can also draw on their AgriInvest account balance at any time to help manage income declines or access cash flow.
Source: Agriculture and Agri-Food Canada May 1, 2019 news release