AAFC held an industry engagement session on April 11 to discuss the ongoing review of Business Risk Management (BRM) programs. CFA Director of Risk Management and Farm Policy, Scott Ross, attended sessions on:
- Current and emerging risks
- Risk management and growing the sector
- International approaches
- Alternative risk management tools
Alongside other representatives from the AgGrowth Coalition, Scott highlighted that BRM programming is failing to meet producers’ needs and expectations, and that their requirements should be better understood before looking at program options. Significant work remains to ensure that the review and subsequent programming accurately reflect producers’ situations.
CFA has proposed that the analysis should start with a clear definition of all available programming options and tools to transform existing programs. From there, industry and government can work in partnership to truly analyze the effectiveness of various options in managing price, margin, and production risks on the farm.
A “What we heard” document about the session is expected in the near future. CFA is pleased to see acknowledgement that more work is necessary, and that additional options warrant further consideration.
For more details, contact Scott Ross.