When the federal, provincial, and territorial (FPT) Ministers of Agriculture met virtually on July 17 to discuss plans for building a stronger, more competitive agriculture sector in Canada, a major topic was business risk management (BRM) programs.
Recognizing the pressures from uncertain trade conditions and climate challenges, Ministers agreed to key improvements for the AgriStability program in 2025. The compensation rate will rise from 80% to 90%, and the maximum payment limit will double from $3 million to $6 million.
These changes aim to help farmers manage their risks better.
From 2026, provinces and territories can choose a new inventory method for on-farm use products. Ministers will also seek approvals to include feed costs for rented pastures as allowable expenses in AgriStability by 2026.
They will review progress on these updates in their annual meeting this September.