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Risk management in Canada's agricultural sector in light of COVID‐19: Considerations one year later

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  • Alan P. Ker
  • Scott Biden

Abstract

The unexpected introduction and spread of coronavirus disease‐2019 (COVID‐19) has presented significant risks for every aspect of Canadian society, including the food and agricultural sector. The suite of Business Risk Management (BRM) programs, developed decades ago and without any thought to the possibility of a global pandemic, are meant to assist farmers in managing risks. This article discusses to what extent these BRM programs, and more broadly government programs, assisted farmers in managing risks brought on by the pandemic. Despite calls by industry for significant additional public funds, we find that COVID‐19 exposed no significant gaps in BRM programming and therefore we see no reason for more funding to be funneled to the farm sector through BRM programming. L'introduction et la propagation inattendues de la COVID‐19 ont présenté des risques importants pour tous les aspects de la société canadienne, y compris le secteur alimentaire et agricole. La suite de programmes de gestion des risques de l'entreprise (GRE), développés il y a des décennies et sans aucune réflexion sur la possibilité d'une pandémie mondiale, sont destinés à aider les agriculteurs à gérer les risques. Cet article explique dans quelle mesure ces programmes de GRE, et plus largement les programmes gouvernementaux, ont aidé les agriculteurs à gérer les risques induits par la pandémie. Malgré les appels de l'industrie pour des fonds publics supplémentaires importants, nous constatons que COVID‐19 n'a révélé aucune lacune significative dans la suite GRE et, par conséquent, nous ne voyons aucune raison pour que plus de financement soit acheminé vers le secteur agricole par le biais de la GRE.

Suggested Citation

  • 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.
    • Handle: RePEc:bla:canjag:v:69:y:2021:i:2:p:299-305
    DOI: 10.1111/cjag.12287
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    References listed on IDEAS

    as
    1. Richard Barichello, 2021. "Revisiting the effects of the COVID‐19 pandemic on Canada's agricultural trade: The surprising case of an agricultural export boom," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 69(2), pages 251-260, June.
    2. 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.
    3. Jill E. Hobbs, 2021. "Food supply chain resilience and the COVID‐19 pandemic: What have we learned?," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 69(2), pages 189-196, June.
    4. 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.
    5. 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.
    6. Alfons Weersink & Michael von Massow & Brendan McDougall & Nicholas Bannon, 2021. "Re‐examining the 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. 69(2), pages 215-224, June.
    7. William A. Kerr, 2021. "Agriculture after a year with COVID‐19: Any long‐term implications for international trade policy?," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 69(2), pages 261-267, June.
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