Farm tractor planting seeds in a field. (Photo courtesy of © Can Stock Photo / chas53)

Millions Available For Partnerships

The federal government is putting up millions of dollars to encourage partnerships in the agriculture industry.

$55 million is being made available under the AgriRisk Initiatives Program.

That encourages agriculture industry stakeholders, researchers, and federal, provincial and territorial governments to proactively explore and develop new risk management products and services for the agricultural sector.

Canada’s agriculture and agri-food system contributes $110 billion to the economy, with more than $64.6 billion in exports.

And agriculture risk management helps stabilize farmers’ incomes and strengthens farm businesses.

“Canada’s hard-working farmers constantly face volatility and unpredictability in their business,” said Lawrence MacAulay, Minister of Agriculture and Agri-Food. “Our Government is launching this renewed AgriRisk program to help protect our hardworking farmers from the risks they face so they can continue to grow the economy and create good, well-paying jobs. This announcement responds to what we heard from the external advisory panel on business risk management.”

Funding is available under two components: Research and Development and Administrative Capacity Building.

Under the Research and Development component, up to $25,000 per year will be available for academic research proposals that explore the development of alternative risk management tools or, propose different ways to address issues with existing BRM programs.

And the Administrative Capacity Building component provides funding to build administrative capacity for the delivery of new risk management tools. Applications are now available and being accepted.