While traditional crop insurance programs are not offered for hop growers in Ontario, there are other options for growers to help mitigate risks.
For more information, visit the Ontario Specialty Crops blog.
Agriculture and Agri-Food Canada’s Advanced Payment Program (AAP), delivered by the Agricultural Credit Corporation (ACC) in Ontario. The available advance rate for Ontario growers in the 2020-2021 growing season will be $6.79/dry lb.
Via Agricorp – covers large margin declines caused by production loss, increased costs or market conditions. If a producer’s margin falls below 70 per cent of their recent average, AgriStability helps to offset the difference.
Via Agricorp – is a savings account that producers can use to either cover small income declines or support other investments. Each year, producers can deposit up to 1 per cent of their Allowable Net Sales (ANS) into a bank account and receive a matching government contribution. Producers can withdraw funds at any time.