The Saskatchewan Crop Insurance Corporation will be lowering average premiums and coverage levels this year.
Provincial Agriculture Minister Bob Bjornerud says average producer premiums are falling 16 per cent. The 70 per cent coverage level is projected to be $6.03 per acre . . . down from $7.19 per acre last year. The lower premiums are due to above average crops over the past several years and lower crop prices this year.
The lower prices also mean an average 10 per cent reduction in coverage. However, Bjornerud points out it is still the third highest coverage level per acre ever offered by Crop Insurance.
Three new crops will be eligible for crop insurance coverage . . . camelina, soybeans and navy beans. There were approximately 25,000 acres of camelina, 15,000 acres of soybeans and 2,000 acres of navy beans grown in Saskatchewan last year.
Yield cushioning will now be available across the entire province, following a pilot program in the southwest last year. It is designed to limit the negative impact on producer coverage levels resulting from back-to-back poor crops.
The Contract Price Option is also being expanded to include flax, lentils and alfalfa seed.
Click here to see more...