News Release

FREDERICTON (GNB) – A new risk management tool for New Brunswick maple producers aims to protect them financially from production losses caused by natural perils such as extreme weather conditions.

The AgriInsurance program will allow producers to purchase protection in the form of an insurance policy.

“New Brunswick maple producers are known around the world for quality products,” said Agriculture, Aquaculture and Fisheries Minister Margaret Johnson. “The new AgriInsurance program for maple producers will provide participants in the sector with important protection from unforeseen weather events. This is an important step that will grow maple businesses in communities across New Brunswick and attract new producers.”

The department already offers AgriInsurance programs for growers of apples, grain, grain corn, oilseeds, potatoes, strawberries, sweet corn, fresh market vegetables and wild blueberries.

Participants in the new program will share the cost of premiums with the provincial and federal governments. Government funding comes from the Sustainable Canadian Agricultural Partnership.

“Maple syrup producers often face unpredictable and sometimes extreme weather, and that can have a direct impact on their operations,” said federal Agriculture and Agri-Food Minister Lawrence MacAulay. “By extending the AgriInsurance program to the maple sector, producers can now access essential insurance protection, creating a more resilient and competitive maple syrup industry in New Brunswick.”

The provincial and federal governments worked with the New Brunswick Maple Syrup Association to develop the program.

“The maple syrup industry occupies a central place in New Brunswick, with more than 500 people working in this sector and tens of millions of dollars in revenues annually injected into our province's economy,” said association president Frédérick Dion. “However, it is an industry that is at the mercy of climatic hazards and various environmental factors which can have major impacts on the quantity of syrup that is produced from one year to the next. The implementation of the AgriInsurance program will reduce the financial risks for maple syrup producers who must, at this time, assume all of the losses suffered when a bad year occurs. This sharing of risk will reduce the possibility of bankruptcies and provide greater peace of mind for producers who join the AgriInsurance program.”

The $1.2 billion in farm cash receipts New Brunswick recorded in 2023 broke the previous record of $1.1 billion, set in 2022.