Agristability Interim Benefit Increased for Saskatchewan Producers
The federal and provincial governments have agreed to increase the 2021 AgriStability interim benefit payment percentage from 50 per cent to 75 per cent for Saskatchewan producers.
"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. 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," Federal Minister of Agriculture and Agri-Food Marie-Claude Bibeau said. "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."
"We are closely monitoring and responding to the challenges facing Saskatchewan producers due to the extreme drought conditions this growing season. That is why we are taking another step today to provide our producers with additional support," Saskatchewan Agriculture Minister David Marit said. "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."
The interim benefit provides the opportunity for producers who are enrolled in AgriStability to access a portion of their benefit early, to help support losses and cover costs. With this increase, Saskatchewan producers can apply for an interim benefit to receive 75 per cent of their estimated final 2021 benefit, before completing their program year.
The interim benefit is calculated based on the estimated margin decline or loss for the year compared to the farming operation's reference margin. The decline must be at least 30 per cent below the reference margin to access a payment. If a producer receives an interim benefit payment, they must still file all final program year forms and meet program requirements by the assigned deadlines.
To apply for an interim benefit, producers can contact their local SCIC office, call the AgriStability Call Centre toll-free at 1-886-270-8450, or email [email protected]. Understanding the importance of issuing interim benefits in a timely manner, SCIC is prioritizing Interim Benefit applications. SCIC will work with producers to finalize Interim Benefit applications as soon as possible.
AgriStability is one of the business risk management (BRM) programs under the Canadian Agricultural Partnership. It protects Canadian producers against large declines in farming income for reasons such as production loss, increased costs and market conditions.
The Government of Saskatchewan, through the Ministry of Agriculture and Saskatchewan Crop Insurance Corporation, and the Government of Canada, continue to stay in regular contact with producers, stakeholders, and provincial counterparts as we confront the challenges of drought across Western Canada.