January 18, 2016
2016 MASC Program Changes Offer Additional Protection: Minister Kostyshyn
The Manitoba Agricultural Services Corporation (MASC) is making program changes this year that will benefit cattle producers and provide expanded hail insurance coverage, Agriculture, Food and Rural Development Minister Ron Kostyshyn announced today.
“Protecting against uncontrollable risks is an important part of creating a stable livelihood for Manitoba farmers,” said Minister Kostyshyn. “Through these program enhancements, we continue to support farmers against market and weather-related challenges.”
A new, one-time interest rate credit will be available to cattle producers after April 1. Through MASC’s Stocker Loan program, producers financing feeder cattle will receive a one-time interest rate credit of 0.25 per cent if they also purchase a Western Livestock Price Insurance Program (WLPIP) policy fully covering those animals. WLPIP was introduced in Manitoba in 2014 and offers cattle and hog producers a means of protecting against market risks.
The minister noted this incentive will be especially helpful to young producers with limited financial resources when faced with significant price declines. The cost of the interest rate credit is fully funded by Manitoba.
MASC’s hail insurance has been expanded to include winter squash, pumpkins, peppers and leeks. Maximum coverage for strawberries has been increased to better reflect the associated cost of production, the minister said.
Hail insurance, which covers hail and accidental fires, is available to producers participating in AgriInsurance. Producer premiums fund all program costs including administration.
Complete information on these changes and others for 2016 can be found at www.masc.mb.ca.
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