Farm Income

Business Risk Management

Policy Statement: The Canadian Canola Growers Association supports a farm income strategy that affords farmers the risk management tools, in a transparent manner, to carry on business without the need for ad hoc government aid programs.

Researching Solutions

Farm income security has been a perennial issue for western Canadian grain and oilseed producers. Many programs have been implemented over the years, none with completely satisfactory results. In an effort to develop solutions to some of the shortcomings of the current programs, CCGA initiated an academic study by Dr. Calum Turvey.

Dr. Turvey studied a full range of options for an improved risk management strategy for producers, recommending a whole farm income assurance program. CCGA is advocating that government implement a program based on the concepts recommended in Dr. Turvey’s report. Click here to see a short Clip on Dr. Turvey's work.

What is whole farm insurance?

A whole farm insurance model insures farmers against both crop and price failure that results in declining income. It covers the whole farm, rather than a specific commodity, and would be actuarially sound, with costs roughly equally the expected benefit.

CCGA’s proposed program differs from past revenue insurance programs in a very important way – it reflects current market prices rather than an average of historical prices. By using current market prices based on spring forward prices, a whole farm income assurance program provides an unbiased reflection of current market signals, giving more accurate coverage levels to farmers.