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