(File photo/farmnewsNOW Staff)

By Alice McFarlane

AgriStability

AgriStability interim payment increased

Apr 24, 2020 | 12:14 PM

The AgriStability interim benefit payment for 2020 has been boosted from the current 50 per cent.

Saskatchewan producers can apply to receive 75 per cent of their estimated final 2020 benefit before completing their program year.

Saskatchewan Crop Insurance Corporation (SCIC) is also waiving the six months farming and one production cycle criteria for participants applying for 2020 interim benefits.

Saskatchewan Agriculture Minister David Marit said the payment can help producers with cash flow.

“If a producer qualifies for an interim benefit, this is a great way to get additional funds for their operation before filing their final application,” Marit said in a media release.

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Interim benefits are calculated based on the farm’s estimated program year margin, relative to its estimated reference margin. The estimated program year margin must show a decline of 30 per cent or more compared to the estimated reference margin.

Agriculture Producers Association President Todd lewis said for producers in a position to submit a claim, every little bit helps but the majority of farmers aren’t enrolled in the program because they don’t see a value in it.

“Around 30 per cent of producers that have AgriStability coverage have a problem with the reference margins of 70 per cent,” Lewis said. “There are lots of issues on mixed farming operations where they don’t qualify for a payment, that’s why they’re not involved in the program.”

Lewis said producer groups would like to see the reference margin for AgriStability increased from the current 70 per cent to 85 per cent.

The deadline to enrol in AgriStability for the 2020 program year was recently extended to July 3.

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alice.mcfarlane@jpbg.ca

On Twitter: @AliceMcF