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AgriStability Deadline Extension & Advance Payment Program Changes
The trade dispute with China that is having an effect on canola and other Canadian commodity markets has prompted some changes in government programs affecting farmers.
AgriStability deadline extension: The enrolment deadline for AgriStability for the 2019 year has been extended from April 30, 2019 to July 2, 2019. This is intended to give producers who fear that their profitability will be impacted by the Canada China trade issue an opportunity to participate in the program to provide a degree of protection. The program has many complexities, but in general it protects you when your net farming income falls below 70% of your recent average. If you are considering enrolling in the program, we can be of assistance in preparing the application.
Advance Payment Program: The maximum allowable limit available under the APP has risen from $400,000 to $1,000,000. The interest-free portion of the advance has increased from $100,000 to $500,000 for canola producers. The interest-free component remains at $100,000 for all other eligible commodities.