‘This extension will give producers additional time to consider their risk management needs during this period of uncertainty’
Saskatchewan has extended the enrollment period for the 2020 AgriStability program to July 3, 2020, without penalty, to help producers manage the impact of current market disruptions, increased expenses, and production challenges.
“This extension will give producers additional time to consider their risk management needs during this period of uncertainty,” said David Marit, minister of agriculture. “We understand the challenges the Saskatchewan agriculture industry is facing and I encourage producers to consider the AgriStability Program.”
AgriStability is a low-cost risk management program offering financial assistance to producers who experience large margin declines due to any combination of production loss, adverse market conditions or increased costs. Coverage is personalized for each farm by using historical data to calculate a program year margin and a reference margin.
Participants in the program can apply for an interim benefit, through which producers receive a portion of their AgriStability benefit early to help support losses and cover costs before completing their fiscal year.
Saskatchewan producers can apply for the program over the phone 1-866-270-8450 or through email at [email protected] Producers can also complete the short contact form – available at www.scic.ca/agristability/how-to-apply – to begin the application process and request a call back from AgriStability staff. Service is available Monday to Friday from 8 a.m. to 5 p.m.
The federal government is committing $306.8 million in stimulus funding to support 6,000 small- and medium-sized Indigenous businesses across the country flowing through 59 different Aboriginal financial institutions in Canada. And CIBC has launched its Export Development Corporation (EDC) Business Credit Availability Program (BCAP), which provides businesses with as much as $6.25 million amid the crisis.