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Risk management in Canada's agricultural sector in light of COVID‐19

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  • Alan P. Ker

Abstract

The unexpected introduction and spread of COVID‐19 has presented significant challenges for every aspect of Canadian society. Although the food and agricultural sector is positioned better than most, there are many risks that will need to be managed in the coming months. The suite of Federal‐Provincial‐Territorial Business Risk Management (BRM) programs delivered under the Canadian Agricultural Policy framework are meant to assist farmers in managing risks; however, there are no corresponding specialized programs for agribusinesses. The underlying structure of the BRM program was developed decades ago and certainly not with any thought to the possibility of a global pandemic. This article considers to what extent the BRM program and, more broadly, government programming will assist farmers in managing new risks. By default, the article is speculative in nature given that we are currently at the onset of the pandemic in Canada. L'introduction et la diffusion inattendues de COVID‐19 ont présenté des défis importants pour tous les aspects de la société canadienne. Bien que le secteur alimentaire et agricole soit mieux positionné que la plupart, il existe de nombreux risques qui devront être gérés au cours des prochains mois. La série de programmes fédéraux‐provinciaux‐territoriaux (FPT) de gestion des risques de l'entreprise (GRE) offerts dans le cadre de la Politique agricole canadienne (PAC) vise à aider les agriculteurs à gérer les risques; cependant, il n'y a pas de programmes spécialisés correspondants pour les entreprises agroalimentaires. La structure sous‐jacente des programme GRE a été élaborée il y a des décennies et certainement sans penser à la possibilité d'une pandémie mondiale. Cet article examine dans quelle mesure le programme de GRE et, plus largement, la programmation gouvernementale aideront les agriculteurs à gérer les nouveaux risques. Par défaut, l'article est de nature spéculative étant donné que nous sommes actuellement au début de la pandémie au Canada.

Suggested Citation

  • Alan P. Ker, 2020. "Risk management in Canada's agricultural sector in light of COVID‐19," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 68(2), pages 251-258, June.
    • Handle: RePEc:bla:canjag:v:68:y:2020:i:2:p:251-258
    DOI: 10.1111/cjag.12232
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    References listed on IDEAS

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    1. Alan P. Ker & Barry Barnett & David Jacques & Tor Tolhurst, 2017. "Canadian Business Risk Management: Private Firms, Crown Corporations, and Public Institutions," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 65(4), pages 591-612, December.
    2. Alfons Weersink & Mike von Massow & Brendan McDougall, 2020. "Economic thoughts on the potential implications of COVID‐19 on the Canadian dairy and poultry sectors," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 68(2), pages 195-200, June.
    3. John A. L. Cranfield, 2020. "Framing consumer food demand responses in a viral pandemic," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 68(2), pages 151-156, June.
    4. Peter Slade, 2020. "Business risk management programs under review," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 68(3), pages 263-270, September.
    5. Jill E. Hobbs, 2020. "Food supply chains during the COVID‐19 pandemic," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 68(2), pages 171-176, June.
    6. Chad Lawley, 2020. "Potential impacts of COVID‐19 on Canadian farmland markets," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 68(2), pages 245-250, June.
    7. David Orden, 2020. "Resilience test of the North American food system," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 68(2), pages 215-217, June.
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    1. Alan P. Ker & Ryan Cardwell, 2021. "Introduction to the special issue on COVID‐19 and the Canadian agriculture and food sectors: Thoughts one year into the pandemic," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 69(2), pages 155-159, June.
    2. Yanqi Xie & Apurbo Sarkar & Md. Shakhawat Hossain & Ahmed Khairul Hasan & Xianli Xia, 2021. "Determinants of Farmers’ Confidence in Agricultural Production Recovery during the Early Phases of the COVID-19 Pandemic in China," Agriculture, MDPI, vol. 11(11), pages 1-22, October.
    3. Alan P. Ker & Ryan Cardwell, 2020. "Introduction to the special issue on COVID‐19 and the Canadian agriculture and food sectors: Thoughts from the pandemic onset," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 68(2), pages 139-142, June.
    4. Tomas Baležentis & Mangirdas Morkūnas & Agnė Žičkienė & Artiom Volkov & Erika Ribašauskienė & Dalia Štreimikienė, 2021. "Policies for Rapid Mitigation of the Crisis’ Effects on Agricultural Supply Chains: A Multi-Criteria Decision Support System with Monte Carlo Simulation," Sustainability, MDPI, vol. 13(21), pages 1-31, October.
    5. Margarida Rodrigues & Mário Franco & Rui Silva, 2020. "COVID-19 and Disruption in Management and Education Academics: Bibliometric Mapping and Analysis," Sustainability, MDPI, vol. 12(18), pages 1-25, September.
    6. Assem Abu Hatab & Carl‐Johan Lagerkvist & Abourehab Esmat, 2021. "Risk perception and determinants in small‐ and medium‐sized agri‐food enterprises amidst the COVID‐19 pandemic: Evidence from Egypt," Agribusiness, John Wiley & Sons, Ltd., vol. 37(1), pages 187-212, January.
    7. Kumar, Anish & Mangla, Sachin Kumar & Kumar, Pradeep & Song, Malin, 2021. "Mitigate risks in perishable food supply chains: Learning from COVID-19," Technological Forecasting and Social Change, Elsevier, vol. 166(C).
    8. Lioutas, Evagelos D. & Charatsari, Chrysanthi, 2021. "Enhancing the ability of agriculture to cope with major crises or disasters: What the experience of COVID-19 teaches us," Agricultural Systems, Elsevier, vol. 187(C).
    9. Tae-Seung Park & Jae-Yoon Kwon, 2022. "Analysis of Crisis Management for Sustainable Development of Fitness Center during the COVID-19 Pandemic," Sustainability, MDPI, vol. 14(4), pages 1-12, February.
    10. Alan P. Ker & Scott Biden, 2021. "Risk management in Canada's agricultural sector in light of COVID‐19: Considerations one year later," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 69(2), pages 299-305, June.
    11. Ali, Imran & Arslan, Ahmad & Chowdhury, Maruf & Khan, Zaheer & Tarba, Shlomo Y., 2022. "Reimagining global food value chains through effective resilience to COVID-19 shocks and similar future events: A dynamic capability perspective," Journal of Business Research, Elsevier, vol. 141(C), pages 1-12.
    12. Yanqi Han & Hui Lyu & Shixiong Cheng & Yuhang He, 2022. "Influencing Mechanism and Difference of Poultry Farmers’ Willingness and Behavior in Breeding Scale—Evidence from Jianghan Plain, China," IJERPH, MDPI, vol. 19(3), pages 1-15, January.

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