The federal government is providing support to develop a new risk management tool for farmers.
The Trudeau government has announced a 786 thousand dollar investment for Farm Management Canada to develop a new online farm risk management tool called Agrishield.
The online tool will help farmers have real-time assessments of the negative impact of risk to their business and provide some solutions to reduce the risk.
For example, if an overland flood situation is imminent, the tool can help farmers assess the degree of risk they face and potential mitigation measures to adopt, such as tile draining or insurance coverage.
The executive director of Farm Management Canada, Heather Watson, says less than one third of Canada’s farmers have a risk management plan.
She wants to increase the awareness and adoption of risk management practices and planning on the farm.