REGINA — Agriculture ministers have agreed to work on improving AgriStability for the 2025 program year by increasing the compensation rate and payment cap.
The federal government proposed several months ago to increase the compensation rate from 80 to 90 per cent and double the maximum payment from $3 million to $6 million. However, provinces have to agree in order for the changes to occur.
Federal minister Heath MacDonald said after a July 17 virtual meeting ministers were “receptive” to this plan and agreed to take the steps required to make the changes. Under the federal-provincial agreement, changes to AgriStability can only be made if two-thirds of provinces agree.
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The changes are meant to help with trade challenges Canadian farmers are currently facing, particularly from China and the United States.
Beginning in the 2026 program year, provinces will be able to use a new inventory valuation method for inventory used on farm, such as feed. Ministers agreed to obtain approvals to include feed costs associated with rented pasture as an allowable expense ahead of the 2026 program year.
The ministers will meet in person in Winnipeg Sept. 7-9, at which time they will continue reviewing allowable expenses under AgriStability.
Trade was also on the agenda at the virtual meeting, both interprovincial and international.
Meanwhile, MacDonald said his next trip is to Toronto to tout the benefits of agriculture to the investment community. He said he is trying to push the envelope for agricultural success, which has strong positive implications for the Canadian economy.
He also said he can’t overemphasize the collaboration and support he has received from his provincial and territorial counterparts since becoming minister in May.
More to come.
