Risk mitigation high in Canadian agriculture

A FCC survey to understand the influence of the evolving operating environment on risk mitigation strategies shows that risk mitigation levels remain high in Canadian agriculture.

By Andrew Joseph, Farms.com; Photo by Andrew Draper on Unsplash

The FCC (Farm Credit Canada) has released a report on its most recent examination of the risk mitigation strategies affecting Canadian agriculture.

Looking at the categories of production, market, financial, human resources, and legal, the FCC report is based upon a survey about risk perceptions and producers’ implementation of relevant risk management strategies.

First undertaken in 2020, the FCC acknowledges that recent factors surrounding inflation and rising interest rates, the war in Ukraine, supply chain disruptions, and more warrant a 2022 update.

It found that:

• Production risk management continued to improve;
• Human resources risk remained the lowest risk category;
• Risk management strategies differed by sector.

To read the full analysis of this survey, go to the FCC website HERE.