AgriStability Program to align with tax filings

Oct 21, 2024
By Jean-Paul McDonald
Assistant Editor, North American Content, Farms.com

New Changes Reduce Costs and Paperwork for Producers

In Alberta, farmers play a crucial role in sustaining the provincial economy and ensuring food security.

Recognizing the challenges faced by these vital contributors, the Agriculture Financial Services Corporation (AFSC) has announced beneficial changes to the AgriStability program aimed at reducing administrative burdens and associated costs for producers.

Starting in 2025, the AgriStability program will allow farmers to align their program reporting with their tax filings.

This adjustment promises to significantly cut down on paperwork and accounting fees, thereby simplifying the enrolment and participation process.

Moreover, an expedited submission deadline for program forms will enable faster processing and earlier disbursement of payments, enhancing financial flow for farmers during critical periods.

The AgriStability program is designed as a whole-farm, margin-based support scheme that assists producers when they experience declines in their farming margins of more than 30%. These declines can result from various factors including production losses, adverse market conditions, or rising costs.

The program improved its compensation rate for losses exceeding this threshold, increasing the support from 70 cents to 80 cents per dollar of decline, thereby offering better coverage against financial risks.

Additionally, participation in AgriStability grants producers access to further financial support through mechanisms like the federal Advance Payments Program, which provides low-interest cash advances to help manage cash flow throughout the year.

AFSC offers a comprehensive suite of services beyond AgriStability, including lending, business risk management, and insurance solutions tailored to the unique needs of agricultural businesses.

Farmers are encouraged to consider these tools carefully and choose the options that best suit their operational requirements and financial strategies.

These program enhancements reflect a targeted effort to bolster Alberta's agricultural sector by reducing the operational strain on farmers and enabling more focused, efficient farm management.

Photo Credit: AFSC

Video: Dicamba Returns for Georgia Farmers: What the New EPA Ruling Means for Cotton Growers

After being unavailable in 2024 due to registration issues, dicamba products are returning for Georgia farmers this growing season — but under strict new conditions.

In this report from Tifton, Extension Weed Specialist Stanley Culpepper explains the updated EPA ruling, including new application limits, mandatory training requirements, and the need for a restricted use pesticide license. Among the key changes: a cap of two ½-pound applications per year and the required use of an approved volatility reduction agent with every application.

For Georgia cotton producers, the ruling is significant. According to Taylor Sills with the Georgia Cotton Commission, the vast majority of cotton planted in the state carries the dicamba-tolerant trait — meaning farmers had been paying for technology they couldn’t use.

While environmental groups have expressed concerns over spray drift, Georgia growers have reduced off-target pesticide movement by more than 91% over the past decade. Still, this two-year registration period will come with increased scrutiny, making stewardship and compliance more important than ever.