July 7, 2022
Ontario farmers in AgriStability don't need to wait to apply for a 2022
AgriStability payment. An interim payment can provide cash flow sooner, when it's needed most. Interim payment application forms are available on
agricorp.com.
Interim payments are 50% of a farmer's estimated final payment. This year, beekeepers and poultry farmers may also be eligible for an
increased AgriStability interim payment of 75% of their estimated final payment.
Challenges such as unpredictable weather, market disruptions or increased costs may lead to financial challenges for some farmers. Last year, farmers benefited from more than $8.5 million in interim payments.
Recent AgriStability enhancements
AgriStability is an affordable part of risk management plans for many farms.
Recent
program enhancements to improve AgriStability coverage for Ontario farmers include the removal of the reference margin limit and an increase to the provincial compensation rate.
Farmers whose 2022 income margin has so far declined to under 70% of their average net income (their reference margin) may be eligible for an interim payment.
Get payments up to 7 days faster
Farmers have enough to do without the hassle of cheques. Payments can arrive in your account 5 to 7 days faster with direct deposit. Direct deposit is convenient, reliable and secure.
To sign up, customers can call Agricorp or go to
agricorp.com/directdeposit. All customers need is a void cheque and a few minutes of their time to make things a little easier.
Related stories
