Saskatchewan honey producers are now eligible for yield loss coverage through the provincial crop insurance program.
The province’s 150 commercial beekeepers produce about 17 million pounds of honey a year, representing 30 percent of Canada’s honey production.
Tim Wendell, chair of the Saskatchewan Beekeepers Development Commission, said few producers have carried insurance from private companies because it is too expensive.
He said producers just entering the industry, in particular, will benefit from inclusion in the Saskatchewan Crop Insurance Corp. program.
“They can take this security to the bank and be able to better design a financial program that will let them cover their costs to enter our industry,” he said.
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Beekeepers must have a minimum of 100 colonies to participate.
Crop insurance general manager Cam Swan said the program will use individual producers’ average yield records, in pounds per hive, to calculate a guarantee.
Producers who want the most coverage at the highest price will pay a premium of $5.83 per hive.
Swan said the program will be more effective than other options.
“Once you have one claim (from other providers), your insurance really, really goes up because you don’t have the pooling effect.”
