Growers of edible horticulture crops in Ontario are now able to take part in their own self-directed version of the province’s Risk Management Program (RMP).
Eligible producers can now open a self-directed risk management (SDRM) account and deposit funds, which are then matched by a government contribution, the province’s farm program delivery agency Agricorp said Monday.
SDRM participants aren’t required to make a deposit for the 2011 program year, but will have to complete and return a deposit request.
To be able to withdraw funds this year if need be, participants must submit the necessary forms by Oct. 31, Agricorp said. Producers aiming to withdraw funds in spring 2012 will need to submit both their deposit request and withdrawal request to Agricorp by Feb. 1, 2012.
Eligible Ontario producers who filed a T1163 with the Canada Revenue Agency or a Statement A with Agricorp for 2010 will get a participant package in the mail this month, Agricorp said, while producers who filed a T2042 can contact Agricorp for details about the SDRM program.
Funds from an SDRM account can be used to cover a drop in income, an investment in risk management tools, or other expenses related to an eligible participant’s farming operation. Growers’ and the province’s contributions are measured as a percentage of allowable net sales.