Nova Scotia’s beef producers can now get financial protection through the Maritime Livestock Price Insurance Pilot Program. The new business risk management tool will allow producers to purchase price protection on beef cattle in the form of an insurance policy to protect against unexpected market declines.
The Maritime Livestock Price Insurance Pilot Program is a regional initiative scheduled to run until March 2026. It will complement existing business risk management programs available to the agriculture industry through the partnership between the Department of Agriculture and Agriculture and Agri-Food Canada.
The administration of the program is cost-shared by the participating provinces and the Government of Canada. Producers purchasing insurance coverage pay the insurance premiums.
Nova Scotia’s beef farmers brought in more than $42 million in farm cash receipts in 2023. Nova Scotia has over 630 registered farmers who report income from beef.
Click here to see more...