Interim benefit increased to aid farmers facing drought losses

Producers in the province will be seeing a 50 per cent increase in their AgriStability interim benefit payment this year.

To help support farmers who have been impacted by drought conditions in Saskatchewan, the federal and provincial governments will be increasing the benefit from 50 to 75 per cent.

“My heart goes out to those farmers and ranchers feeling the impacts of the drought.  We are working closely with provinces to get farm families the support they need as soon as possible,” said Marie-Claude Bibeau, federal minister of agriculture and agri-food.

“By unlocking more AgriStability funds through interim payments, we can get more cash in hand for farmers who are making tough decisions in a difficult situation and I urge other provinces to request the same if needed.”

AgriStability is a business risk management created under the Canadian Agricultural Partnership to protect Candain producers against large declines in farming income.

Producers enrolled in AgriStability will be able to access a portion of their benefit early in order to support possible losses and cover costs. The increase will allow for Saskatchewan producers to apply for the interim benefit and receive 75 per cent of their estimated final benefit for the year before completing their program year.

The interim benefit is calculated based on an estimated margin decline or loss for the year compared to the farming operation’s reference margin, according to a provincial news release Wednesday. The decline to a producer must be at least 30 per cent below the reference margin to receive a payment.

If an interim payment is received, the producer must still file all final program year forms and meet the program requirements by their deadlines.

“We will continue to support farm families to get them through the challenges we face today, and position them for a sustainable future, since we know climate change will continue to pose challenges,” Bibeau said.

Saskatchewan agriculture minister David Marit said the government is monitoring and responding to the challenges facing producers in the province this year.

“This increase allows producers to access a larger portion of their final AgriStability benefit early.  The AgriStability interim benefit can help producers with cash flow needs and provide them with additional flexibility to deal with the dry conditions,” he said.

To apply for the benefit, producers can contact their local SCIC office or call the AgriStability Call Centre.