July 20, 2018 – Ottawa, Ontario – Agriculture and Agri-Food Canada
Canada's agriculture and agri-food system contributes $110 billion to Canada's economy,
with more than $64.6 billion in exports. Agriculture risk management is important
to the sector – it helps stabilize farmers' incomes, strengthens farm businesses,
and encourages growth in the agricultural sector. Under the Canadian Agricultural
Partnership, governments continue to support the development of new risk management
tools that reflect the changing nature of the business.
Building on the successes of Growing Forward 2, the AgriRisk Initiatives Program
has been renewed under the Canadian Agricultural Partnership. Minister of Agriculture
and Agri-Food Lawrence MacAulay today announced that the $55 million program will
encourage partnerships between agriculture industry stakeholders, researchers, and
federal, provincial and territorial governments to proactively explore and develop
new risk management products and services for the agricultural sector.
Funding is available under two components: Research and Development and Administrative
Capacity Building. In response to recommendations received from the BRM Review Expert
Panel, priority will be given to proposals for industry-led projects to develop
new and innovative business risk management tools.
"Canada's hard-working farmers constantly face volatility and unpredictability in
their business. Our Government is launching this renewed AgriRisk program to help
protect our hardworking farmers from the risks they face so they can continue to
grow the economy and create good, well-paying jobs. This announcement responds to
what we heard from the external advisory panel on business risk management." - Lawrence
MacAulay, Minister of Agriculture and Agri-Food
- The AgriRisk Initiatives (ARI) program supports the development of new risk management
tools for use in the agriculture sector. ARI is a Canadian Agricultural Partnership
Business Risk Management (BRM) initiative.
The Research and Development component provides funding for the research and
development of potential new private sector or industry-led, tools to assist the
industry in addressing risks. Applications for the Research and Development component
are now available, and will be accepted until September 28th, 2018.
MicroGrants, a new category under the Research and Development component, will
provide up to $25,000 per year in funding for academic research proposals that explore
the development of alternative risk management tools or, propose different ways
to address issues with existing BRM programs.
The Administrative Capacity Building component provides funding to build administrative
capacity for the delivery of new risk management tools. Applications are now available
and being accepted.
- The BRM Review External Panel of Experts presented a series of recommendations to
FPT Ministers, including a recommendation to support the development of industry-led
"top-up" tools to provide farmers with flexibility in addressing losses not currently
covered in the BRM suite.