MBP Welcomes Removal of Reference Margin Limit Within AgriStability
March 26, 2021
Manitoba Beef Producers (MBP) welcomes news that the federal, provincial and territorial (FPT) governments have agreed to the removal of the Reference Margin Limit (RML) from Agri-Stability and that this change is retroactive to the 2020 production year.
“For some time MBP and its national and provincial beef industry counterparts have been strongly advocating for changes to business risk management (BRM) programs, including the removal of the RML,” said MBP President Tyler Fulton. “MBP believes the removal of the RML should help to increase the predictability and bankability of the AgriStability program and ultimately make it more equitable, particularly for cow-calf producers, but also others in the sector.”
MBP recognizes that achieving lasting and impactful changes to Canada’s BRM programs will take time and will be a continuous process to ensure they are responsive to risks such as the weather, trade issues, production conditions and others. MBP asks governments to continue this dialogue in conjunction with the agricultural commodities. From the perspective of the beef sector, this includes further discussions about matters such as a proposed increase to the compensation rate from 70 per cent to 80 per cent, which would also be beneficial for beef producers.
Additionally, with the deadline to enroll in AgriStability now extended to June 30, MBP is encouraging Manitoba’s beef producers to evaluate this business risk management option to best determine how it fits into their operations in terms of mitigating against risk.
For further information contact:
Carson Callum, General Manager
David Hultin, Communications Coordinator
Phone: 204.558.4502 or firstname.lastname@example.org