The Ontario government has announced a $100-million increase to its provincial insurance program aimed at supporting farmers during unexpected financial challenges, such as sudden price drops for livestock and field crops.
The funds will be phased in over the next three years, bringing the total available under the Risk Management Program (RMP) to $250 million, according to the Ministry of Agriculture, Food and Agribusiness.
Farmers who participate in the program pay premiums based on their production levels and the amount of insurance coverage they require. The increased funding is intended to provide farmers with additional financial security amid growing market instability.
Drew Spoelstra, president of the Ontario Federation of Agriculture, expressed support for the funding boost, stating that it “will provide Ontario’s farmers with added confidence and certainty at the exact time it is needed most.”
The expansion of the program aims to help farmers manage the financial risks they face in an increasingly volatile market.
Last month, Ontario’s premier called for an early election amid the potential tariffs from US President Donald Trump.
Doug Ford, who has led Ontario since 2018, said that citizens in Ontario will have an election in late February. The election was not due until mid-2026, but Ford is trying to capitalize on a polling lead his party enjoys.
Ford, who has been aggressive in his calls for retaliation if Trump starts a trade war, suggested curbing energy exports to the US if necessary.
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