Project will support pork producer risk-management strategy
February 14, 2020, Winnipeg, Man. – Federal Agriculture and Agri-Food Minister Marie-Claude Bibeau has announced the development of a risk-management strategy being undertaken by the Manitoba Pork Council for pork producers to recover from the devastation caused by potential outbreaks of diseases, such as porcine epidemic diarrhea.
The Manitoba Pork Council will receive an investment of $482,158 towards a two-year project that aims to create an effective, affordable, and self-sustainable risk management program that responds to periods of financial instability in the Manitoba hog industry. This could also include measures to assist producers with costs associated with cleaning and disinfection, so the producer is able to recover as quickly as possible.
It follows on the success of provincial poultry sectors in Canada that have established a reciprocal insurance system to guard against the impacts of Avian Influenza and other diseases.
While still at the early stages of development, if successful, the risk management strategy could be expanded to incorporate pork sectors in other provinces, with the understanding that the bigger the pool of participants, the more affordable it would be to individual producers.
“Producers need to know that they have the tools and supports available to them if the worst happens,” Bibeau said in a press release. “I’m excited by the potential of this project, not just for Manitoba, but for the pork sector across Canada.
“Our government is working closely with the sector on many measures that deal with disease outbreaks before, during and after they occur.”
George Matheson, chair of the Manitoba Pork Council, thanked the federal government for supporting the project and noted it will allow the development of some private-sector solutions to mitigate the economic impact of diseases and market fluctuations.
“We will ensure that the project results will have application to all pork producers in Canada. The poultry sector has led the way in developing risk-management tools for specific diseases that affect their sector. We hope to build upon those initiatives to create insurance products for the pork sector.”
The project is funded under the AgriRisk Initiatives, a five-year program under the Canadian Agricultural Partnership that supports the development of new risk-management tools. The research and development stream prioritizes projects involving new financial tools which allow producers to manage a defined business risk.
The mission of the Manitoba Pork Council is to foster the sustainability and prosperity of the hog sector for the good of pork producers and all Manitobans.