B.C. farmers to receive increased AgriStability supports
Government sites extreme weather, trade concerns for increased funding
| 1 min read
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Glacier FarmMedia—Farmers in British Columbia will get a bump in support from the AgriStability program.
Following a meeting of federal, provincial and territorial governments last week, Agriculture Canada announced the compensation rate would increase from 80 to 90 per cent, the compensation cap would be doubled from $3 million to $6 million and interest-free payments to farmers would be advanced for up to 75 per cent of their expected final claim.
The changes are a result of increased strains on producers such as international trade concerns and extreme weather damages from flooding and wildfires, according to the federal government.
Agriculture minister Heath MacDonald said the federal and provincial governments “agreed to make changes to AgriStability so that producers facing trade uncertainty and dry conditions have more protection” after last week’s meeting.
“The improvements take into account the practical considerations that producers must apply to their operations as they respond to market and environmental challenges,” B.C. Agriculture Council president Jennifer Woike said.
The AgriStability program is meant to protect Canadian farmers from large drops in income from external factors. Farmers in B.C. have until July 31, to enrol for the 2025 program year.
