Ontario’s grain and oilseed growers can now take their pick of one of four coverage levels under the 2008 Risk Management Program (RMP).
Agricorp, which is delivering the three-year support program to Ontario farmers, announced the change in a release Thursday.
Unlike the first year of the RMP in 2007, for which farmers paid no premiums but could only take 100 per cent coverage, the 2008 RMP will offer four coverage levels — 100, 95, 90 and 85 per cent — with corresponding premiums.
Producers may choose different levels for different crops — and RMP coverage levels aren’t tied to the coverage levels a
producer can choose under production insurance, Agricorp said.
RMP participants who want to reduce their coverage level and
corresponding premium will have to notify Agricorp by May 1, the agency said — otherwise they will be automatically renewed at 100 per cent.
Farmers who didn’t take part in the 2007 RMP may also enrol for 2008, also by May 1, the agency said.
The RMP has issued over $40 million in payments since December 2007, Agricorp said.
