The Government of Saskatchewan will spend just over $1.5 billion on agricultural programs and resources in 2024-2025, an increase of 5.6 per cent compared to last year’s budget.
budget The budget, announced Wednesday by Deputy Premier and Finance Minister Donna Harpauer, includes $571 million specifically for the Ministry of Agriculture.
“Our investments in this year’s budget support the continued competitiveness and strength of the sector,” Agriculture Minister David Marit said.
The budget includes a $77 million increase to the Saskatchewan Crop Insurance Corporation in anticipation of increased agristability payments next crop year, and an additional $7.1 million in wildlife compensation payments.
“Knowing these programs will be a huge backstop for Saskatchewan’s grain farmers as they plan for the 2024 growing season is a huge relief,” Western Canadian Wheat Growers Association President Darryl Franseau said in a news release. “It’s a sense of security,” he said, praising the state budget.
The province is investing $89 million in the second year of a strategic initiative under the Sustainable Canada Agriculture Partnership, which also includes funding for the development and improvement of irrigated acres. The state says more than 55,000 acres of new irrigated land have been developed in the past four years.
The 2024-25 budget also includes a freeze on grazing rates on Crown land at 2022 levels. Ranchers who need to reduce stocking rates on crown grazing land due to drought are eligible for lease discounts.
For 2023-24 spending, the Government of Saskatchewan will increase last year’s agriculture budget ($1.4 billion) by $1.1 billion, primarily due to drought-related costs such as increased crop insurance claims and the Agri-Recovery Relief Program provided to the public. We expect it to significantly outperform the US dollar. Livestock producers.
Agriculture spending accounts for about 7.6% of the state’s 2024-25 budget.
