Alberta producers can sign up for AgriStability until September. 29. The Government of Alberta and Agriculture and Agri-Food Canada have reopened the program recognizing that wildfires and extremely dry conditions have affected many farmers and ranchers since the April 30 enrolment deadline. This gives affected producers more time to review and manage the business risks associated with these challenging situations.

AgriStability protects Canadian producers against large declines in farming income due to production loss, increased costs and market conditions. The program is offered through the Sustainable Canadian Agricultural Partnership (Sustainable CAP), which is a shared commitment between federal, provincial and territorial governments.

“Our government has listened to farmers and ranchers who have been impacted by wildfires and drought,” says RJ Sigurdson, Alberta minister of agriculture and irrigation. “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.”

Enrolling in AgriStability can provide producers with access to other credit options such as the federal Advanced Payments Program, which offers low-cost cash advances.

“Alberta’s producers have shown great resiliency and the ability to rise to the extreme challenges brought on by wildfires and drought,” says Lawrence MacAulay, minister of agriculture and agri-food Canada. “Risk management programs such as 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.”

In Alberta, producers sign up for AgriStability and access benefits through Agriculture Financial Services Corporation. Alberta farmers and ranchers are encouraged to sign up for late participation if they believe they have experienced a significant loss. Factors such as reduced income, increased expenses or reduced inventory are used to determine a potential benefit.

Source:  Alberta Agriculture & Irrigation August 4, 2023 news release