FORT ST. JOHN, B.C. – The B.C. Ministry of Agriculture has released an industry notice to producers who are unable to harvest their crops due to poor weather conditions.
According to the Government, typically, Production Insurance claims are finalized in the spring once all insured acres have either been harvested or destroyed.
However, when the portion of unharvested acres in relation to the total insured acres of the crop is extensive, there is a possibility that waiting for the final claim settlement may impose a financial burden on farm businesses.
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To assist producers in managing their cash flow over the winter, the Province says Production Insurance can issue an Interim Claim Payment of 50 percent for damaged crops.
If the harvest is partially complete and there is a need for cash flow, producers may be able to access low-interest cash advances under the Advance Payments Programs.
For more information, you can visit the Province’s website.