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Farm Business Management Programs
Agri Stability Program
The program is designed to integrate income stabilization and disaster protection to help producers achieve long-term income stability on their farms. It covers margin losses caused by declines in price, production and /or allowable production expenses. Farmers can fit their coverage to their individual needs, giving them flexibility to decide each year how much risk protection to secure.
When losses occur, Government and farmers share in the costs. Farmers will be required to deposit enough funds for the level of protection they select. For smaller losses, farmers and governments would share the burden equally. As losses steepen, an increasing portion of the costs would shift to government, with its share becoming four dollars to every one dollar provided by the producer when income declines reach more than 30 per cent of the margin.
P.E.I. Agricultural Insurance Corporation
P.O. Box 2000, Charlottetown
PE C1A 7N8
Tel: 368-4842 Fax: 368-4857
Advance Payments Programs
This program is designed to improve the cash flow of the farm before planting or after harvest. The program guarantees the repayment of the advances made to farmers by the producer organization. These guarantees help the producer organization to borrow money from lenders at lower interest rates.
Spring cash advances help finance the growing expenses until the crop is ready to harvest. To guarantee the crop against production risks, producers are required to have production insurance.
The fall cash advance allows farmers to store the crop and sell it throughout the crop year withthe aim of achieving higher returns. The organization can issue producers an advance on the value of their crop once the crop is in storage.
Island Grain & Protein Council Inc.
Shirley Ramsay
Tel: 836-8931
PEI Potato Board
Andrew Wood
Tel: 892-6551
PEI Vegetable Growers Co-op Association
Don Read
Tel: 892-5361
Farm Assistance Program
An annual grant will be provided to the Prince Edward Island Federation of Agriculture to assist with the cost of providing a counseling service to Prince Edward Island farmers. The Program provides counseling in relation to any individual, marital or family life event causing stress.
Requests for information should be directed to:
PEI Federation of Agriculture
Phone: (902)368-7289
Farm Use Assessment Program
The Farm Use Assessment Program provides tax relief to resident and non-resident farmland owners who have property leased to bona fide farmers. The property must be clear, arable land leased or rented to a bona fide farmer and operated as a farm enterprise. The lease or rental agreement for the land must be for a minimum of three years and the total amount of land annually leased must be a minimum of 10 acres.
Carol Johnston
Provincial Treasury
PO Box 2000, Charlottetown
PE C1A 7N8
Tel: 368-4449 Fax: 368-6584
cajohnston@gov.pe.ca
www.taxandland.pe.ca
Future Farmer Program
This program was established to encourage new farmers to develop successful commercial farm operations.
There are five components of the program:
• skills assessment and learning plan
• business advisory service
• risk management
• interest rebate
• extension assistance
Information available at the District Offices
O’Leary - 859-8844
Summerside - 888-8040
Charlottetown - 368-4145
Sandra MacKinnon
Program Manager
Tel: 368-5647
sjmackinnon@gov.pe.ca
Production Insurance
This program provides production risk protection to farmers by minimizing the economic effects of crop losses caused by weather (drought, hail, frost, excessive moisture, etc.) insects and disease. The insurance is currently available for potatoes, vegetable, grain and fruit crops and will be expanded to include additional crops such as forage and possibly livestock in the future.
Coverages from 60 to 90 per cent of an individual farmer's average yield or if not available, the provincial historic average yield can be selected. Producers do not pay administration fees. Premiums are cost shared between producers and both levels of governments with producers paying approximately 1/3 of the cost.
Melis Visser
P.E.I. Agricultural Insurance Corporation
P.O. Box 2000, Charlottetown
PE C1A 7N8
Tel: 368-4842
mvisser@gov.pe.ca
This information has been taken from website "Agriculture and Forestry"