Ontario Risk Management Program for Farmers to Increase to $250 Million
What happened
Due to the global supply crunch caused by the Iran war disrupting oil supplies, average diesel costs across Canada reached $2.75 per litre in mid-September, up from the previous record of $2.25 in 2022. Facing these rising operational costs, Premier Doug Ford announced that the current $150-million risk management program for Ontario farmers will be boosted to $250 million next year.
From globalnews.ca
Why it matters
The increase aims to help farmers mitigate the financial pressures caused by record-high diesel prices. The program is designed to help manage operational costs for agriculture in Ontario.
From globalnews.ca
Who's involved
- Doug FordPremier of Ontario and main proponent of the risk management program.
- OntarioProvince whose agricultural sector is the focus of the risk management program.
- Natural Resources CanadaCanadian government department involved in the technical execution of the risk management programs.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- OntarioSpeculative
Ontario farmers could benefit from the increased government funding aimed at mitigating high operational costs.
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The entities involved
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Doug Ford
26th premier of Ontario since 2018
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Natural Resources Canada
Canadian government department responsible for natural resources, energy, minerals and metals, forests, earth sciences, mapping and remote sensing