AgriStability — Alberta
Canada
Insurance to protect farming operations
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateApril 01, 2023
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
grant_single|grantors
- Government of Alberta
- Agriculture Financial Services Corporation
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get financial support to help manage large income declines caused by production loss, increased costs or market conditions.
grant_single_labels|terms_and_conditions
This grant provides flexible financial support aimed at managing significant income declines for Canadian agricultural producers. With changes under the Sustainable Canadian Agricultural Partnership, there are enhancements in compensation rates and simplified benefits calculation processes.
- Compensation rate increased to 80% or 80 cents per dollar of support for losses exceeding 30% of the reference margin.
- Removal of the reference margin limit allows for potentially increased coverage.
- Interim advance payments can be applied for, providing a portion of the estimated benefit before complete calculations are made at year’s end.
- Participants can receive benefits for financial distress due to various factors such as production loss, adverse market conditions, and increased costs.
- Payments are made after the completion of the program year, ensuring accurate calculation based on allowable income and expenses.
grant_single_labels|projects
AgriStability supports activities that help Canadian producers manage significant risks leading to large income declines. The program is designed to cover various farm-related expenses and income losses.
- Coverage for loss of income due to production decline.
- Protection against adverse market conditions affecting farm income.
- Management of direct input costs in farming operations.
- Support for commodity purchases to maintain farm operations.
grant_single|admissibleProjectsExample
$ 200,000
Building an innovative greenhouse to enhance crop yield and efficiency
$ 200,000
Developing a new soil retention technology to enhance farm sustainability
$ 120,000
Launching a training program for sustainable agricultural practices
$ 160,000
Creating a marketing campaign to promote local organic products
$ 160,000
Adopting new irrigation technology to reduce water usage
$ 160,000
Implementing an organic waste management system on the farm
grant_single_labels|admissibility
Eligibility for the AgriStability program requires specific criteria related to the applicant's farming operations and financial reporting.
- The applicant must be farming in Canada.
- The applicant must have completed six months of consecutive farming activity and a production cycle.
- The applicant must have reported farming income to the Canada Revenue Agency (CRA) as an individual, corporation/co-operative, or a trust/communal organization.
- The applicant must have paid their AgriStability fee.
grant_eligibility_criteria|who_can_apply
AgriStability is designed to support farmers across Canada who face substantial income declines in their farming operations. Specifically, the program is intended for Canadian producers whose farms are eligible based on certain criteria:- Farmers who have completed six months of consecutive farming activity and a production cycle.- Producers who are running farming operations within Canada.- Individuals, corporations, co-operatives, trusts, or communal organizations that report farming income to the Canada Revenue Agency (CRA).- Producers who have paid the AgriStability program fee.
grant_eligibility_criteria|eligible_expenses
The AgriStability program is designed to provide financial protection and support to Canadian producers facing significant risks in their agricultural operations. Eligible activities for this grant program focus on managing income declines due to various factors impacting farming operations.
- Management of whole-farm risks through coverage based on the producer's own farm history.
- Coverage and support for margin declines greater than 30 per cent due to production losses, adverse market conditions, and increased costs.
- Participation in interim advances to receive early payments of estimated benefits before the program year completion.
- Engagement with AgriStability to access additional credit options, like the Advance Payments Program (APP).
grant_eligibility_criteria|zone
This grant is available to producers operating within Canada as part of the suite of business risk management programs. This encompasses agricultural activities conducted across Canadian provinces and territories.
- Producers farming anywhere within Canada, inclusive of all provinces and territories.
grant_single_labels|register
- Step 1: Enrol in AgriStability
- Ensure you have reported farming income to Canada Revenue Agency as an individual, corporation, co-operative, or trust.
- Pay the relevant AgriStability fee.
- Complete the enrolment process through the Agriculture Financial Services Corporation (AFSC) or your provincial contact.
- Step 2: Gather Necessary Documentation
- Compile records of your allowable income including agricultural commodity sales and production insurance proceeds.
- Gather records of your allowable expenses such as commodity purchases and direct input costs associated with farming operations.
- Prepare supporting financial documentation for reference and production margins.
- Step 3: Submit Interim Advance Application (if applicable)
- Ensure you have completed six months of consecutive farming activity and a production cycle, if applying for an interim advance.
- Submit the interim advance application if you want to receive a portion of the estimated benefit early.
- Contact AFSC or your provincial contact for specific submission forms or online submission guidelines.
- Step 4: Monitor Application Status
- Sign in to your AFSC Connect Account to track the progress of your application.
- Contact AFSC at 1.877.899.2372 or email info@afsc.ca for any inquiries.
grant_single_labels|otherInfo
Here are some additional details about the AgriStability program:
- AgriStability provides Canadian producers with an ongoing whole-farm risk management tool that offers protection against large declines that threaten the viability of their farm and are beyond their capacity to manage.
- The Sustainable CAP's agreement includes $1 billion in federal programs and activities and $2.5 billion in cost-shared programs and activities funded by federal, provincial, and territorial governments.
- Participants in the AgriStability program can apply for an interim advance, allowing them to receive a portion of the estimated benefit early.
- The program's compensation rate has increased to 80 per cent under Sustainable CAP, which is in effect for the 2023 program year.
- Simplified participation is offered for new participants or those who have been out of the program for at least four years, allowing them to submit three years of tax and supplementary information instead of five.
grant_single_labels|contact
info@afsc.ca
1.877.899.2372
Apply to this program
AgriStability: A Robust Support for Canadian Farmers
AgriStability is a federal-provincial-territorial risk management program aiming to support Canadian farmers by mitigating the impact of significant income declines. With enhanced benefits under the Sustainable Canadian Agricultural Partnership, this program ensures financial stability for producers amidst challenges in the agricultural sector.
In-Depth Guide to the AgriStability Program and Its Benefits for Farmers
The AgriStability program serves as a critical lifeline for Canadian farmers facing substantial income fluctuations due to factors beyond their control, such as adverse market conditions, production losses, and increased operational costs. By providing whole-farm protection, it encompasses all commodities produced by a single farm, offering customized coverage based on the individual farm's history. This comprehensive approach ensures that farmers receive support tailored to their unique situations, facilitating resilience and continuity in their operations.
Under the purview of the Sustainable Canadian Agricultural Partnership, AgriStability has enhanced its compensation framework, increasing the compensation rate from 70% to 80% as of the 2023 program year. This adjustment significantly boosts the financial cushion available to producers, allowing them to recover more effectively from economic adversities. The benefit trigger remains at 70% of the reference margin, maintaining the cost at $315 for every $100,000 of reference margin support, thus ensuring affordability for producers seeking to secure their businesses against severe income declines.
Important improvements, such as the removal of the reference margin limit in 2021, have also streamlined the program, making it more accessible and less complex. This change allows a broader range of farming operations to benefit, with approximately half of the participants anticipated to gain up to an additional 30% in coverage over time. Such enhancements make AgriStability a responsive and inclusive program, accommodating the diverse needs of the agricultural sector across Canada.
AgriStability's provision for interim advances is another pivotal feature, offering early access to a portion of estimated benefits for producers experiencing distress before the completion of a program year. This option provides immediate relief, enabling them to address liquidity shortages and operational disruptions. Eligibility for interim advances is straightforward, requiring completed farming activity, agrarian account reporting, and the settlement of the program fee, thereby offering prompt assistance when it is most needed.
For newcomers to the program, simplified participation avenues have been introduced. Initially, participants could be eligible under a simplified participation format, which streamlines enrolment and reduces historical documentation requirements, making the program more accessible. These measures are aimed at encouraging more producers to engage with AgriStability and enhance their risk management strategies.
The AgriStability program's contributions extend beyond immediate financial benefits, providing a gateway to other financial services and credit options like the Advance Payments Program. Such opportunities further reinforce the financial resilience of farms, allowing them to stabilize and plan sustainably for future seasons.
Ultimately, AgriStability functions as a vital support mechanism within the Canadian agricultural framework. By consistently adapting to the industry's evolving landscape and farmer requirements, it upholds the competitive edge, innovation, and sustainability of Canadian agriculture. As farms face the inevitabilities of fluctuating markets and changing climates, AgriStability stands as a testament to the enduring partnership between governments and producers to ensure the vitality of the agricultural sector across Canada.
