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Supporting development of risk management tools


September 3, 2019
By Agriculture and Agri-Food Canada (edited)

The federal AgriRisk Initiatives Program is now accepting new applications to support the development of new risk management tools for the agriculture sector.

Renewed under the Canadian Agricultural Partnership, the program will prioritize proposals involving new financial tools allowing agricultural producers to manage a defined business risk. In addition, for minor and emerging agricultural sectors, support will be available for the development of risk assessments and educational tools to help producers manage risk.

Eligible activities include data collection, analysis and modeling, as well as testing of financial tools. Issues that can be addressed include responding to disease in crops, protecting producers from market price fluctuations, coverage for revenue risk and protecting against loss from contracts in new markets. Financial tools include insurance products, options / futures / price pooling and other hedging tools.

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“Canada’s agricultural industry is vital to our economy yet our producers face challenges beyond our control. That is why I am pleased to be offering a program that can help producers develop new risk management tools that will help them meet these challenges,” says Marie Claude Bibeau, Minister of Agriculture and Agri-Food Canada.

Eligible applicants will be able to apply for funding through the Research and Development stream of the program, one of three components of the AgriRisk Initiatives program. Eligible applicants are not-for-profit organizations, including industry groups, Indigenous groups, and cooperatives, mutual insurance companies or reciprocals.

MicroGrants is a second stream that provides up to $25,000 per year in funding for academic research proposals that explore the development of alternative risk management tools or, propose different ways to address issues with existing BRM programs.

The Administrative Capacity Building is a third stream that provides funding to build administrative capacity for the delivery of new risk management tools. Applications are now being accepted.