Some help on the way for farmers and ranchers impacted by drought

Jul 23, 2021 | 9:37 AM

CALGARY – The Alberta Beef Producers is welcoming government support for livestock producers impacted by drought.

Federal Agriculture Minister Marie Claude Bibeau has announced the early designation of the Livestock Tax Deferral, and immediate adjustments to the agri-insurance program to make drought-damaged crops available for feed.

The early designation of the Livestock Tax Deferral for prescribed drought regions will allow beef producers who are forced to sell a significant amount of their breeding herd, due to drought conditions, to offset the resulting revenues with the costs to replace the herd.

ABP is encouraging the government to include additional eligible regions in Alberta as soon as possible.

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The federal government is also allowing provinces affected by drought to invoke the late participation provision of AgriStability to allow producers who have not yet enrolled to access program supports.

Producers can also apply for interim payments under AgriStability, which can help them cope with immediate financial challenges.

Bibeau also repeated the Government of Canada’s offer to raise the AgriStability compensation rate from 70 per cent to 80 per cent and urged Prairie governments to match it.

She says this would provide farmers across the country an additional $75 million per year, benefitting distressed farmers who need help now more than ever.

by Brian Konrad