AgriInvest – AgriStability are two great programs available through Agricorp.
AgriInvest
AgriInvest is a savings account with matching government contributions. You can withdraw funds at any time to alleviate risk or make other investments.
Each year, you can deposit up to 100% of your Allowable Net Sales, with the first 1% matched by governments.
The limit on matching government contributions is $10,000 per year. ANS are the net sales of most primary agricultural commodities, except those covered by supply management (dairy, poultry and eggs).
Production Insurance claims are considered allowable commodities.
AgriStability
AgriStability protects producers from large declines in their farming income caused by production loss, increased costs or market conditions.
Your allowable income and expenses for all the commodities you produce are used to calculate your margins, protecting the income of your whole farm.
In other words, you keep track of your production and production margins, report these with your taxes and one other information filing.
How AgriInvest and AgriStability Help Farmers
If you are in the program and have a sufficiently low production year compared to your average, you will receive a payout.
In my experience these programs all usually give far more in payouts than they cost in fees to participate in. Which makes this is a no-brainer for most farmers looking to maximize the profitability and financial robustness of their farm.