Released on March 19, 2014
The 2014-15 Agriculture Budget of $371.6 million will help to ensure farmers and ranchers have the support they need to keep the agriculture industry growing and strong after record production levels and exports in 2013.The Budget is highlighted by nearly $79 million for strategic initiatives such as research and market development, an increase of $7.5 million from the previous year. The budget also includes the new Western Livestock Price Insurance Program and enhancements to the Crop Insurance Program.
“Agriculture continues to grow and drive our economy in Saskatchewan, accounting for over one third of our provincial exports,” Agriculture Minister Lyle Stewart said. “This budget will build on the record crop production and exports in 2013 to help the industry continue to grow in the future.”
Saskatchewan producers harvested a record crop of 38.4 million tonnes in 2013, surpassing the 2020 Growth Plan Target of 36 million tonnes. Saskatchewan also set a new record of $11.7 billion worth of agriculture exports in 2013, an increase of 83 per cent since 2007. The Budget provides significant support to help producers continue to increase production and achieve the Growth Plan export goal of $15 billion by 2020.
Approximately $242 million or 65 per cent of the 2014-15 Budget will go toward fully funding business risk management programs including AgriStability, AgriInvest and Crop Insurance. The Crop Insurance program has been enhanced to include increased yield coverage for durum and barley, a new yield-loss coverage program for corn in the east central and southeast areas of the province and a Bee Mortality Insurance Pilot Program. The Saskatchewan Crop Insurance Corporation will deliver Western Livestock Price Insurance to Saskatchewan cattle and hog producers, providing them protection against unexpected market price declines.
The $79 million being invested into strategic initiatives includes $26.7 million for research and innovation; $23.6 million for water infrastructure, including irrigation infill; and $3.4 million for pest, disease and invasive weed control. The Budget also includes continued funding for value-added business development and support for rural municipalities and irrigation districts to rehabilitate irrigation bridges.
“Notwithstanding the current crisis in grain transportation, the future of agriculture is very optimistic, thanks to the hard work and innovation of our producers,” Stewart said. “This budget provides investments to support the industry and help our producers continue feeding the world.”
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For more information, contact:
Tiffany Stephenson
Agriculture
Regina
Phone: 306-787-4031
Email: Tiffany.stephenson@gov.sk.ca