The federal and B.C. governments are making changes this year to a program that helps farmers manage large income losses.
The changes to the AgriStability program follow a virtual meeting last week of federal, provincial and territorial agriculture ministers.
A joint statement released Friday said the changes address international trade concerns and will help many B.C. farmers who have faced income losses due to extreme weather and other challenges.
“We raised concerns we have been hearing from farmers here in B.C. at a national level, and our advocacy is resulting in improvements to AgriStability so B.C. farmers can continue to produce high-quality local food,” said B.C. Agriculture and Food Minister Lana Popham.
The changes for the 2025 program include increasing the compensation rate from 80 to 90 per cent of eligible income decline.
The compensation cap is also being doubled to $6 million, which the governments said will provide more equitable protection for larger farms and ranches.
The program will also provide interest-free advances to farmers for up to 75 per cent of their anticipated final claim.
B.C. farmers have until July 31 to enrol in the AgriStability program for this year.
The province said nearly 2,500 farmers are currently enrolled.
Statistics Canada data said that in 2021, there were more than 15,800 farms in B.C.
