New insurance program to help protect and attract maple producers
News release
July 15, 2024 – Fredericton, New Brunswick – Agriculture and Agri-Food Canada
A new risk management tool for New Brunswick maple producers aims to protect them financially from production losses caused by natural perils such as extreme weather conditions.
The AgriInsurance program will allow producers to purchase protection in the form of an insurance policy.
The New Brunswick Department of Agriculture, Aquaculture and Fisheries already offers AgriInsurance programs for apples, grain, grain corn, oilseeds, potatoes, strawberries, sweet corn, fresh market vegetables and wild blueberries.
Participants in the new program will share the cost of premiums with the provincial and federal governments. AgriInsurance is a federal-provincial-producer cost-shared program that helps producers manage production and quality losses. Support for the program is provided by the governments of Canada and New Brunswick under the Sustainable Canadian Agricultural Partnership (Sustainable CAP).
The provincial and federal governments worked with the New Brunswick Maple Syrup Association to develop this program.
The $1.2 billion in farm cash receipts New Brunswick recorded in 2023 broke the previous record of $1.1 billion, set in 2022.
Quotes
“Maple syrup producers often face unpredictable and sometimes extreme weather, and that can have a direct impact on their operations. By extending the AgriInsurance program to the maple sector, producers can now access essential insurance protection, creating a more resilient and competitive maple syrup industry in New Brunswick.”
- The Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food
“New Brunswick maple producers are known around the world for quality products. The new AgriInsurance program for maple producers will provide participants in the sector with important protection from unforeseen weather events. This is an important step that will grow maple businesses in communities across New Brunswick and attract new producers.”
- Margaret Johnson, Minister of Agriculture, Aquaculture and Fisheries
“The maple syrup industry occupies a central place in New Brunswick with more than 500 people working in this sector and tens of millions of dollars in revenues annually injected into our province's economy. However, it is an industry that is at the mercy of climatic hazards and various environmental factors which can have major impacts on the quantity of syrup that is produced from one year to the next. The implementation of the AgriInsurance program will reduce the financial risks for maple syrup producers who must, at this time, assume all of the losses suffered when a bad year occurs. This sharing of risk will reduce the possibility of bankruptcies and provide greater peace of mind for producers who join the AgriInsurance program.”
- Frédérick Dion, President of the New Brunswick Maple Syrup Association
Contacts
For media:
Annie Cullinan
Director of Communications
Office of the Minister of Agriculture and Agri-Food
annie.cullinan@agr.gc.ca
Media Relations
Agriculture and Agri-Food Canada
Ottawa, Ontario
613‑773‑7972
1-866-345-7972
aafc.mediarelations-relationsmedias.aac@agr.gc.ca
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Nick Brown
Department of Agriculture, Aquaculture and Fisheries
nick.brown@gnb.ca
Frederick Dion
New Brunswick Maple Syrup Association
aanb.nbmsa@gmail.com
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