It's always good to hear about other farmers, getting screwed over, it makes the last time that we made a stupid mistake seem okay. Hearing about others losing money, just before Xmas makes it that much better..............
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I vote a big no. Farmers need to start acting like business people and learn to manage their own credit risk like every other company and industry in the whole world. There is credit risk everywhere but the world cannot run without credit. Knowing that the hog industry is at negative margins, we have insisted on financial statements from these guys or no grain. Grain trade does not need to be regulated to protect farmers from being too stupid to manage their own credit. Viterra isn't going to be compensated for what they have delivered to Big Sky and neither should the farmers. On another note, what the hell is the Saskatchewan government doing owning parts of businesses? I guess that is the fallout from the socialist NDP regime that thank goodness you have finally gotten rid of. Now it's time to kick them out of Manitoba.
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As a proponent of short term insurance, as a method of bankable individualized coverage I note that had this system been implemented these folk could have purchased short term insurance to cover their deliveries. They could be applying for insurance now.
The special crop processors lobbied for this change we suggested the risk insurance could include other sectors like the feed sector, a system which leaves the feed handling industry exempt, we were shut down. The Bill died on the order desk. The reasons for its demise in the folk lore of yet another missed opportunity to make AG policy simpler and more efficient,and less bureaucratic.
Pity.
Perhaps it is time to request this very simple solution again, a solution that works quite fine in Ontario, thank you very much... (it is not only the dual market they have, but they have short term risk insurance too!)
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