2012 Crop Insurance Summary: Estrie Region

LÉVIS, QC, Feb. 20, 2013 /CNW Telbec/ - La Financière agricole du Québec filed its 2012 crop insurance summary for the Estrie region today. Of the 921 farm businesses it insures in the region, La Financière agricole has, as of February 14, 2013, paid out nearly $758,000 to 250 businesses that suffered losses, $466,000 of this amount going to maple syrup producers. Insured values reached $47.6 M in 2012, nearly 3.7% more than in 2011.

2012 was a very good year for the Estrie region. However, the maple harvest season was cut short by exceptionally mild weather in March, leading to significant loss in yield. On the other hand, the early spring encouraged rapid seedling growth and the warm, sunny weather was very favourable to crop emergence and growth. However, depending on the seeding date, the excess heat and lack of precipitation during summer affected the development of some crops. The first cut of hay was excellent, while later cuts yielded less due to lack of rain. Overall, other crops had higher than average yields.

"This summary demonstrates the importance of crop insurance when weather conditions are less than favourable. It also highlights the value of La Financière agricole's programs and how it supports the Estrie region's economic vitality," said Alain Perras, director of the Sherbrooke service centre.

For more information about the compensations paid for the different productions covered by the Crop Insurance Program, consult the Crop Insurance Summaries section of La Financière agricole's Web site: www.fadq.qc.ca.

With outstanding loans of $4.4 billion and insured values of over $4.8 billion, La Financière agricole plays a leading role in the development of Quebec's agricultural and agri-food sector. To ensure the economic and financial stability of the businesses it supports, it provides access to quality income protection, crop insurance, venture capital and agricultural and forestry financing products and services. Its multidisciplinary team operates a network of service centres and service desks throughout Quebec.

Source: La Financière agricole du Québec

Information: Alain Perras, Director Sherbrooke Service Centre Tel.: [phone]

 

SOURCE: La Financière agricole du Québec

Alain Perras, Director
Sherbrooke Service Centre
Tel.: [phone]