RAISE THE CAP for Risk Management Program

May 23, 2014

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OASC one-voice-one-message . we speak for over 50,000 farms

May 22nd 2014 Staffa, Ontario . Members of the Ontario Agriculture Sustainability Coalition (OASC) are calling on candidates in the upcoming provincial election to pledge their support for gRaise the Cap for RMPh.

OASC has one voice and one message - we speak for more than 50,000 farms. For the candidates running in the 2014 Ontario election, OASC has one message: Raise the Risk Management Program cap to $175 million annually to provide adequate funding for the program.

Business risk management tools are essential for farmers who want to invest in their operations. The RMP program currently has a cap of $100 million dollars. However, the cap impairs the program from providing price stability for farm businesses. The cap puts at risk investments that generate jobs and growth for the non-supply managed sector.

Volatility in the market and international competition is on the rise. These risk management tools become increasingly important in this new economy. Adequate funding is required for the Ontario Risk Management Program for it to effectively produce the intended results.

"A commitment by the Ontario government to raise the cap by $25 million per year for the next  three years will restore the RMP program," said Henry Van Ankum, Chairman of OASC. "When farms have stable, predictable risk management programs, farmers in the non-supply managed sector will have the confidence to make investments that will increase local food production and will retain and grow Ontario jobs," added Henry.

The cap of $100 million was imposed on the RMP program in 2012, leaving many farms with a major shortfall in risk management coverage.

The Ontario Agriculture Sustainability Coalition is comprised of Ontario's leading non-supply managed commodity organizations, including Beef Farmers of Ontario, Grain Farmers of Ontario, Ontario Pork, Ontario Sheep Marketing Agency and Ontario Veal.

Source: OntarioPork

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