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Risk management in Canada's agricultural sector in light of COVID‐19: Considerations one year later
Author(s) -
Ker Alan P.,
Biden Scott
Publication year - 2021
Publication title -
canadian journal of agricultural economics/revue canadienne d'agroeconomie
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.505
H-Index - 37
eISSN - 1744-7976
pISSN - 0008-3976
DOI - 10.1111/cjag.12287
Subject(s) - agriculture , government (linguistics) , pandemic , covid-19 , business , risk management , public sector , economic growth , economic policy , economics , finance , geography , economy , disease , infectious disease (medical specialty) , medicine , philosophy , linguistics , archaeology , pathology
The unexpected introduction and spread of coronavirus disease‐2019 (COVID‐19) has presented significant risks for every aspect of Canadian society, including the food and agricultural sector. The suite of Business Risk Management (BRM) programs, developed decades ago and without any thought to the possibility of a global pandemic, are meant to assist farmers in managing risks. This article discusses to what extent these BRM programs, and more broadly government programs, assisted farmers in managing risks brought on by the pandemic. Despite calls by industry for significant additional public funds, we find that COVID‐19 exposed no significant gaps in BRM programming and therefore we see no reason for more funding to be funneled to the farm sector through BRM programming.