AgriInsurance coverage continues to provide stability for Manitoba farmers
News release
January 16, 2024 – Brandon, Manitoba – Agriculture and Agri-Food Canada
Manitoba’s AgriInsurance program is expected to provide farmers with nearly $5 billion in coverage on an estimated 9.55 million acres for the upcoming crop year, federal Minister of Agriculture and Agri-Food Lawrence MacAulay and Manitoba Agriculture Minister Ron Kostyshyn announced today.
The ministers released details indicating that 2024 AgriInsurance premiums will be lower than they were in 2023 for most crops insured in Manitoba. For annual crops, producers can expect to pay an average premium of $16.21 per acre in 2024 compared to $19.21 per acre in 2023. Manitoba Agricultural Services Corporation (MASC) calculates premium rates using methodologies that are reviewed and approved by Agriculture and Agri-Food Canada (AAFC).
Continued volatility in global commodity markets has impacted AgriInsurance dollar values for the 2024 season. Some crops such as dry beans, forage seeds, potatoes, vegetables, and forages will have higher dollar values. For the majority of crops, however, dollar values are lower than 2023.
The AgriInsurance program is a risk management tool for Manitoba farmers to protect against production shortfalls and quality losses caused by natural perils. In the case of extreme weather events that impact production such as drought or excess moisture, the AgriInsurance program provides predictable coverage producers can depend on when planning for the upcoming growing season. The program is administered by MASC.
MASC is further enhancing the AgriInsurance program by launching a pilot program for the upcoming crop year designed to meet the needs of small-scale vegetable producers. The program will enable these producers to bundle eligible crops to meet acreage minimums so they can adequately insure a variety of their vegetable crops.
Quotes
“Canadian farmers have experienced a challenging growing year, battling a range of extreme weather events from floods to wildfires and drought. We know the uncertainty this causes for the sector, and why access to flexible and affordable risk management tools are so vitally important. The AgriInsurance program covers over 80 different crop types and will help ensure our hardworking farmers in Manitoba are able to continue to produce the high-quality products they are known for.”
- The Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food
“This is good news for producers at a time when risks and costs related to farming in Manitoba continue to climb. We’re happy to offer affordable risk management for Manitoba farmers through the AgriInsurance program because we know that any reduction in operational costs helps their bottom line.”
- Ron Kostyshyn, Manitoba Minister of Agriculture
Quick facts
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Manitoba has a high level of AgriInsurance participation, with over 90% of annual crop acres and more than 7,650 farms enrolled in the program.
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AgriInsurance is a federal-provincial-producer cost-shared program that helps producers manage production and quality losses. Support for the program is provided by the governments of Canada and Manitoba under the Sustainable Canadian Agricultural Partnership (Sustainable CAP).
Associated links
Contacts
Francis Chechile
Press Secretary
Office of the Minister of Agriculture and Agri-Food
francis.chechile@agr.gc.ca
Media Relations
Agriculture and Agri-Food Canada
Ottawa, Ontario
1-866-345-7972
aafc.mediarelations-relationsmedias.aac@agr.gc.ca
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Manitoba media requests for ministerial comment, contact Communications and Stakeholder Relations: 204-451-7109.
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