The Federal, Provincial, and Territorial Ministers of Agriculture announced the Sustainable Canadian Agricultural Partnership following their Annual Meeting. This five-year agreement, in principle, will see $500 million in new funds, increasing the cost-shared portion of funding by 25 percent.
Ministers agreed to improve Business Risk Management (BRM) programs, with a raise to the AgriStability compensation rate from 70 to 80 percent – something the beef industry has been advocating for since 2021. The implementation of new measures to the suite of BRM programs will make them more timely, equitable and easy to understand.
Under the cost-sharing portion, $250 million was committed to the Resilient Agricultural Landscape Program to support ecological goods and services provided by the agriculture sector.
Other highlights of the new agreement include:
Ministers have committed to collaborating with producers throughout the partnership to ensure they have BRM programs they can rely on when faced with extraordinary situations. There will be emphasis on measuring investment results.
The Canadian Cattle Association welcomed the announcement in a statement available here.