GFM Network News

There’s some green now, but pastures at their farm near Del Bonita — like virtually everywhere — have been hit extremely hard this year, says Sheila Hillmer, pictured with son Keeley.

Relief money is coming soon, but the pain will be long lasting

Producers here are to receive $340 million, but many say it won’t be enough

Reading Time: 3 minutes The first drought relief payment of $94 per head should be in the hands of cattle producers soon. Alberta Beef Producers has been working with the provincial crop insurer to get the drought relief money out as quickly as possible, said general manager Brad Dubeau. “We’re continuing to work with Agriculture Financial Services Corporation very, […] Read more

AFSC wants a grain sample before you sell to an unlicensed buyer

AFSC wants a grain sample before you sell to an unlicensed buyer

A proper sample is key to a payout on an insured crop — here are the rules governing that

Reading Time: 2 minutes Producers who are thinking about selling their grain through an unlicensed grain buyer need to consider a variety of factors, especially if they have production insurance through Agriculture Financial Services Corporation (AFSC). “If you’re thinking about selling grain to a grain dealer, a private buyer, a feedlot or even straight off the combine, it’s very […] Read more

Beyond crop insurance, AFSC is looking at options such as increasing interim payments for AgriStability.

Alberta crop insurance payout could exceed $1 billion

It’s too early for accurate estimates but the scale of the disaster is massive, says provincial crop insurer

Reading Time: 3 minutes Crop insurance payouts could top a billion dollars for the devastating drought that has hit much of Alberta. “We collected about $600 million in premiums this year, so we’re looking potentially at payments twice that amount,” said Darryl Kay, CEO of Agriculture Financial Services Corporation (AFSC.) “It’s really early yet, so it’s hard to speculate […] Read more

The latest change to AgriStability is a significant improvement but producers still need a proper business risk management program, says Canadian Cattlemen’s Association president Bob Lowe, who ranches and has a feedlot near Nanton.

It’s a start but farm groups and governments eye bigger changes to AgriStability

Changes to the federal farm support program get generally favourable reviews, but calls for a better program aren’t going away

Reading Time: 5 minutes Better, but not great. And let’s come up with something that really works. Those two sentiments characterized most of the comments about the recently agreed-to change to AgriStability. And most producers would add ‘still really complicated’ as the decision by Ottawa and the provinces to scrap the ‘reference margin limit’ will impact individual farms in […] Read more

AFSC closing five one-person offices

Reading Time: < 1 minute Agriculture Financial Services Corporation is closing five one-person offices and amalgamating them with larger neighbouring offices. “These one-employee offices provided limited services to a small numbers of clients,” AFSC said in a release. The five offices to be closed are in High Prairie, High River, Rimbey, Smoky Lake and Spirit River. “These are very difficult […] Read more

Agriculture Minister Devin Dreeshen cites funding for the Food Processing Development Centre in Leduc as a key part of his government’s efforts to bring plant protein processing to Alberta. But the opposition NDP says the government has to do what other provinces have done and put money into new processing facilities.

‘Actively trying’ to attract value-added processing, says minister

Government says more processing is a priority, but opposition says other provinces pulling ahead

Reading Time: 2 minutes Alberta is lagging behind the other Prairie provinces when it comes to plant protein processing — but the provincial government is working on it, says the agriculture minister. “Whether it’s canola processing, plant proteins, greenhouses, agri-technology, hemp — there are numerous types of commodities that we’re trying to attract value-added investment domestically and internationally to […] Read more

AFSC borrowing limit increased

Reading Time: < 1 minute Agriculture Financial Services Corporation will be able to borrow another $800 million so it can lend more to farmers, ranchers and value-added food production. The province has set a goal of boosting agriculture and food production by $1.4 billion over the next four years and creating 2,000 new jobs in the sector. The new borrowing […] Read more

Relatively low payouts in recent years mean the province’s crop insurer can afford to sharply reduce premiums and have enough in reserve to cover “a significant wreck.” (* The size of AFSC’s reserve fund for crop insurance in billions of dollars. The figure for 2020 may be adjusted as it reflects payouts made as of Jan. 31 and processing of the 2020 year is still ongoing).

Big crop insurance premium cut may last for years, says AFSC

Barring a big crop wreck, this year’s 20-per-cent cut in premiums will continue for five years, says CEO

Reading Time: 5 minutes Alberta farmers will see a 20 per cent cut to crop insurance premiums this year — and if all goes well, those savings could continue over the next five years. “We’re providing a premium break right now that will lower the cost to producers in the program — (but) even doing that, we still find […] Read more

New AFSC boss makes for the third one this year

Reading Time: < 1 minute Agriculture Financial Services Corporation has appointed Darryl Kay as its new CEO. Kay has worked with the crop insurer and lender for nearly a decade, most recently as chief financial and innovation officer. Kay takes over from Jerry Bouma, a board member and agri-food management consultant who has been interim CEO since Steve Blakely retired […] Read more

Assessing hail damage assessments

Assessing hail damage assessments

Reading Time: < 1 minute Agriculture Financial Services Corporation wants to see how its assessments of hail claims compares to the evaluation of farmers who assessed damage in their fields. The comparison will help “determine the future of adjustments at AFSC and may assist with adjusting speed in the future,” the crop insurer said. A link to the very brief […] Read more