A new report prepared by Farm Management Canada for the Canadian Agri-Food Policy Institute says Canadian farmers need more proactive risk management resources.
When we talk about farm risk management, it’s usually about the suite of business risk management programs – crop insurance, AgriStability and AgriInvest.
These are reactive programs that come into play after a production or income shortfall.
The Farm Management Canada report says proactive programs are needed to better equip farmers so they can anticipate and manage risks, not just recover from them. It says adaptability and long-term resilience come from preparation. This includes skills development, advisory services and incentive-based programming.
The report also says national farm data harmonization is key so that evidence-based policies can be adopted.
One of the recommendations is to reassign a percentage of government funding currently allocated to business risk management programs by re-examining and possibly eliminating AgriInvest, a program they say has minimal impact on supporting risk management.
The full report can be found on the Canadian Agri-Food Policy Institute website.
