Farm groups are looking to the increase in the Risk Management funding as a step forward.
The Grain Farmers of Ontario has worked closely with the provincial government to ensure the future of Ontario's grain supply and value chain. And the GFO is also happy that there will not be an increase in premiums paid by farmers.
"The province's continued commitment to RMP and support for Ontario's grain farmers is vital to the health of Ontario's food supply chain during the COVID pandemic and future recovery,"said Markus Haerle, Chair, Grain Farmers of Ontario. "We want to thank Premier Ford and Minister Hardeman for delivering on the election promise to raise the Ontario RMP by $50 million for the 2020 program year."
As for the money contributed by the Province to the RMP, it will accumulate to form a fund that will remain available to pay future claims if the government contribution is not used in a single year.
Ontario grain farmers rely on the RMP program to help them manage risks outside of their control and it provides farmers with some security to continue to successfully run their farm businesses when faced with market disruptions, which have been heightened by the COVID-19 pandemic.
