Province offers to share the bill for new forage production insurance

The BC government is hoping to ease the impact of inclement weather on forage supply for livestock producers starting next year.

Today, minister of agriculture and lands Stan Hagen announced Forage Supply Coverage, a new insurance product.

The development of the insurance was supported by the BC Cattlemen’s Association to protect its members when local forage fails to grow. Ranchers who rely on forage produced on their own farm are eligible for the new coverage, which will provide coverage of $40 per ton if forage production falls below 60 per cent of average production levels.

Additionally, the province is offering to cover half the producer’s cost of the insurance for 2009 in an effort to get ranchers on board. The deadline to purchase forage productio insurance is November 30th, 2008.