The Alberta government has announced a new risk management program for the province’s hog producers.
The Hog Price Insurance Program (HPIP) is similar to the CPIP program for cattle. The province says it will help provide hog producers with protection against an unpredicted price decline, and will be delivered by Alberta’s Agriculture Financial Services Corporation (AFSC).
In a release, Agriculture Minister Jack Hayden said “In purchasing an HPIP policy, the producer has a known ‘floor’ price for those hogs without limiting the ability to sell them at a higher price, which is important in creating a sustainable industry.”
HPIP is voluntary and available to purchase year round, with insurance settlement reflecting the monthly average Alberta hog price. For more information or to enroll call AFSC at 1-877-899-AFSC (2372) or visit www.AFSC.ca