In 2021, Alberta's farmers will see a 20 per cent drop in their crop insurance premiums.
Agriculture Minister Devin Dreeshin announcing a 20 per cent drop in crop insurance premiums for this year.
Dreeshin saying that will mean a saving of more than $55 million for the Province's farmers.
"I haven't heard if other provinces like Saskatchewan and Manitoba were looking at Crop Insurance reductions as well, but it was something we felt here in Alberta we should do. It was something that works out to if you had 2000 insured acres, it would be about $8000 that a farmer would save this year alone. So, with Crop Insurance and everybody signing up here in the upcoming months we thought it was good to get that announcement out of the way early on."
Dreeshin says this allows farmers to remain competitive internationally especially with a looming 500 per cent increase in carbon taxes, a new clean fuel standard
and a potential fertilizer limit imposed by the Federal Government.