July 22, 2011

 

Canada's Alberta launches hog price insurance

 

 

A new risk management programme for Alberta's hog producers has been declared by the authority.

 

The Hog Price Insurance Programme (HPIP) is similar to the CPIP programme for cattle. The province said it will help provide hog producers with protection against an unpredicted price decline, and will be delivered by Alberta's Agriculture Financial Services Corporation (AFSC).

 

In a release, Agriculture Minister Jack Hayden said "In purchasing an HPIP policy, the producer has a known 'floor' price for those hogs without limiting the ability to sell them at a higher price, which is important in creating a sustainable industry."

 

HPIP is voluntary and available to purchase year round, with insurance settlement reflecting the monthly average Alberta hog price.

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