annual report 2011/12 - Manitoba Agricultural Services Corporation

Strategic Plan ReviewMASC’s vision of a strong rural Manitoba is achieved through a series of focused goals, as identified in its Strategic Plan.The following is a review of the associated actions implemented in 2011/12, along with the progress towards MASC’sgoals. The actions identified are considered to be new initiatives and are incremental to MASC’s ongoing day-to-dayoperations and to the administration of emergency assistance programming.Goal: Insurance – provide programsthat mitigate risk for the majority offarmers• Due to rising input costs, AgriInsurance will be offeringan additional $15 per acre option in 2012, bringing thetotal available coverage for Excess Moisture Insuranceto $80 per acre.• The dollar coverage for Forage Establishment Insuranceand the Forage Restoration Benefit will be increasing in2012, providing more coverage to forage producers.• Under the new Overwinter Bee Mortality Insuranceprogram, which provided protection against overwinterbee losses starting in the winter of 2011/12, 44Manitoba beekeepers insured 29,200 colonies for totalinsured liability of $3.0 million.• Manure Management Loans were introduced to providefinancing for projects approved under MAFRI’s ManureManagement Financial Assistance Program. Thisinitiative provides financing to eligible hog producers inorder to assist with construction costs associated withmanure storage, as well as construction of new manuretreatment projects.• MASC staff made 22 presentations across Manitobato producers, producer groups and rural lenders toenhance awareness of MASC’s loan and guaranteeprograms. An additional 25 presentations were madespecifically promoting MASC’s new Operating CreditGuarantee for Rural Small Business.• Work continues with Agriculture and Agri-FoodCanada and other provinces to finalize guidelines forlivestock insurance proposals.• A premium replacement provision for theAgriInsurance reinsurance program was negotiated for2012, which will reduce the program’s loss in the eventof a large unseeded acreage component such as the onethat occurred in 2011. This feature will assist in thefinancial sustainability of the AgriInsurance Program,thereby protecting future programming.Goal: Lending – assist farming andother rural businesses in accessing credit• An in-depth strategic review of MASC’s lendingprograms led to the approval of a new lending mandate,which will raise lending limits and remove certaineligibility criteria for new and existing borrowers. Thiswill allow more Manitoba producers access to MASCloans starting in 2012.2011/12 Annual Report 9