Grain Farmers of Ontario is once again launching an online Risk Management Program calculator to coincide with the release of the 2011 program applications, mailed the first week of August by Agricorp.
The changes in the 2011 RMP calculator reflect the recent program details announced for the first year of the permanent program; namely premiums are set to zero for the 2011 program year and the coverage level is fixed to 100% for the first year of the program.
Due to the timing of the release of the RMP calculator, before pre-harvest payment information is known, pre- and post-harvest prices are estimated with ranges built into the calculator for farmers to use to adjust prices based on their own price predictions.
The calculator will be updated with actual pre- and post- harvest price information when they are available.
“This online calculator is a great resource for farmers interested in running different marketing scenarios using the actual numbers from the Risk Management Program,” says Barry Senft, CEO of Grain Farmers of Ontario.
“With no premium required for 2011 and 100 percent coverage for the provincial portion of the program, we hope for a high participation rate this year.”
Grain Farmers of Ontario is pleased with the details that were finalized regarding the permanent Risk Management Program and announced for Ontario’s 28,000 grain farmers by Minister Carol Mitchell.
The program was designed by farmers, for farmers, to insure their businesses against risk factors out of their control like commodity price volatility, currency fluctuations and unexpected input cost increases.
The RMP calculator is available on the GFO website at www.gfo.ca/rmp.
For more information about the permanent Risk Management Program there are three ways to get answers:
– for questions regarding the application process, deadlines or program details contact Agricorp at 1-877-257-1380;
– for questions about the design of the program, future considerations or any other general questions about the program contact Erin Fletcher at Grain Farmers of Ontario at efletcher@gfo.ca or 519-767-4137; and
– this program is offered through the Ontario Ministry of Agriculture, Food and Rural Affairs. Information about the program can be found on their website at http://www.omafra.gov.on.ca.
Grain Farmers of Ontario is the province’s newest and largest commodity organization, representing Ontario’s 28,000 corn, soybean and wheat farmers.
The crops they grow cover 5 million acres of farm land across the province and generate over $2.5-billion in farm gate receipts.
