Agriculture Income Protection (AgriStability) (BC)

Agriculture producers can adapt and invest in their farm operation by managing the risk of small and large income declines.

• The province has implemented Late Participation in the federal-provincial AgriStability program for 2021; the program provides funding to farmers who have experienced income declines due to crop or livestock losses or market conditions. Late participation means B.C. farmers that are not currently enrolled for the 2021 program year can now apply to enrol up until Dec 31, 2022. Late registrants in the 2021 program will receive a 20 percent lower payment rate than those who proactively enrolled.
• For Farmers who are enrolled or will be enrolling in the AgriStability 2021 program year, they will be eligible to receive a much higher interim payment within a few weeks of completing the application forms. Increasing the maximum interim payment from 50% to 75% of the estimated final payment will improve cash flow for farmers and help them continue operations this year

• AgriStability helps stabilize farm income by managing the risk of large income declines. AgriStability protects agricultural producers against declines in their net farming income due to market conditions, production loss or increased costs of production. Payments are made if a producer's current year margin falls more than 30% below their reference margin.

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