Record funding for the 2013 Crop Insurance Programme

14-02-2013 | |
Record funding for the 2013 Crop Insurance Programme

Federal Agriculture Minister Gerry Ritz and Saskatchewan Agriculture Minister Lyle Stewart announced details of the 2013 Crop Insurance Programme, which includes record funding and record coverage levels.

“Agriculture plays an important role in Saskatchewan and across Canada in creating jobs and economic growth,” Ritz said. “Insurance based programmes such as these ensure that Saskatchewan farmers have the tools they need to maintain their success today and well into the future.”

“We are committed to the growth of the agriculture industry by working to improve the Crop Insurance Program,” Stewart said. “I would encourage producers to consider enrolling in Crop Insurance to take advantage of the increased coverage levels and other enhancements to the program.”

The 2013 Crop Insurance budget is a record $198 million. On average, coverage levels are also increasing to a record $194 per acre up from $174 per acre in 2012, and more than double the coverage offered in 2007. Since 2008, the provincial government has continually increased funding for crop insurance to address the needs of farmers and ranchers.

New in 2013, hard red spring wheat and oats will be eligible for yield trending. Yield trending recognizes agronomic advancements and increases a producer’s historical yields, which improves the current coverage available on those crops. The yield for hard red spring wheat will increase nine per cent and oats yield will increase 13 per cent, on average.

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