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By rdnewsNOW staff/Pattison Media

Help for farmers impacted by wildfire and drought

Aug 4, 2023 | 3:32 PM

RED DEER, AB – The AgriStability program has reopened for late participation so producers affected by wildfires and drought can consider enrolling to manage business risks.

The provincial government says Alberta producers can sign up for AgriStability until Sept. 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. Officials say this gives affected producers more time to review and manage the business risks associated with these challenging situations.

The government says 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.

RJ Sigurdson, Minister of Agriculture and Irrigation stated, “Our government has listened to farmers and ranchers who have been impacted by wildfires and drought. We know they need support options to make it through this growing season.”

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Sigurdson said, “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.”

The government says enrolling in AgriStability can provide producers with access to other credit options like the federal Advanced Payments Program, which offers low-cost cash advances.

Lawrence MacAulay, Minister of Agriculture and Agri-Food Canada said, “Alberta’s producers have shown great resiliency and the ability to rise to the extreme challenges brought on by wildfires and drought.”

MacAulay noted, “Risk management programs like 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.

Darryl Kay, CEO of Agriculture Financial Services Corporation (AFSC) said, “This has been a challenging year for many Alberta producers as they deal with the impacts of wildfires and now dry conditions.”

Kay added, “AFSC is proud of its role in Alberta’s agriculture industry and we are working to ensure our producers receive the help they need.”

READ MORE: Lethbridge News Now.

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