AGRIBUSINESS RESOURCE
Drought Assistance Tools & Resources for Producers
If you are a Canadian Producer experiencing drought, we encourage you to review the list of funding resources below.
$100 million in AgriRecovery funding
Government of Canada announces $100 million in AgriRecovery funding to further support farmers facing continued extreme weather.
This funding is designed to match all provincial AgriRecovery submissions on the 60-40 cost-shared basis outlined under the Canadian Agricultural Partnership. By making funding available now, producers can be assured that they will receive assistance as soon as full assessments are completed.
AgriStability Industry Advisory
With persistent dry conditions across Saskatchewan, many producers are facing challenging situations. This industry advisory will provide additional information on how the AgriStability Program can provide support for production losses and increased expenses resulting from dry conditions.
Interim Benefit
The federal and provincial governments have agreed to increase the 2021 AgriStability interim benefit payment percentage from 50 per cent to 75 per cent for Saskatchewan producers. The quickest way for producers to access funding through the AgriStability Program is the interim benefit. The interim benefit provides the opportunity for producers who are enrolled in AgriStability to access a portion of their benefit early. The interim benefit is based on the estimated margin decline or loss for the year compared to the farming operation’s reference margin. The decline must be at least 30 per cent below the reference margin to access a payment.
AgriRecovery Funding to Help Saskatchewan Livestock Producers
The program will provide a per head payment to help maintain breeding stock. This financial relief will help producers with extraordinary costs caused by drought, such as accessing feed and water.
AgriRecovery is part of the Canadian Agricultural Partnership agreement, with funding shared on a 60-40 federal-provincial basis. The federal government is requested to provide an additional $178 million for a total program of $297 million.
Livestock Tax Deferral Provision
The Livestock Tax Deferral provision allows farmers who sell part of their breeding herd due to drought or flooding in prescribed drought or flood regions to defer a portion of sale proceeds to the following year. When prescribed regions are identified, the list is announced publicly and posted to this web page.
Questions?
Contact your trusted Stark & Marsh Advisor or an office close to you.