It said every dollar the governments have spent on risk management programs “leads to $2.01. to $3.60 return on investment” which in 3033 was worth between $282.67 and $506.2 million.
The funding gap the governments have imposed from 2016 to 2020 meant that there was only enough money to cover 40.4 per cent of insurance benefits for participating farmers.
The report said risk management programs are important to farmers in obtaining financial services form private lenders and are particularly important for young and beginning farmers.
The Ontario government asked for creation of the coalition in 2009 to help it develop and implement the risk management program. The members are the Beef Farmers of Ontario, Ontario Fruit and Vegetable Growers’ Association, Grain Farmers of Ontario, Ontario Pork, Ontario Sheep Farmers, and the Veal Farmers of Ontario.
It does not include supply management marketing boards because they have enough clout to protect their financial interests.