$482K Invested in Manitoba Pork Risk Management Strategy Development
According to the Government of Canada food recall warning page, there have been two pork-related recalls in the past four months and over 60 recall/allergy alerts. Food recalls are an important health issue for Canadian consumers and create a large economic issue for the companies involved.
The average food recall costs a company $10M in direct costs, in addition to lost sales and brand damage.
It’s no wonder why the Manitoba Pork Council has chosen to be proactive by developing a risk management strategy to help local pork producers recover and minimize the damage caused by potential disease outbreaks.
Who is Manitoba Pork?
Manitoba Pork was founded in 1988 and is a representative organization for all pork producers in Manitoba. Their mission statement is to “foster the sustainability and prosperity of the hog sector for the good of pork producers and all Manitobans.”
In 2019, Manitoba Pork reported having a 29% share of the Canadian hog market (the fourth-largest farming industry in Canada) and contributed $1.7 billion to the provincial economy. At the time of writing, the council represents 613 farms from 210 registered pork producers, which employ 14,000 full-time equivalent jobs. Those numbers are nothing to snort at.
What the Risk Management Project Will Do
The goal of the two-year project is to create a reliable, self-sustaining risk management program that can respond to disease outbreaks and periods of financial instability in Manitoba’s hog market. By using risk management tools developed by the poultry sector, Manitoba Pork will apply these methodologies to specific diseases that affect the swine sector.
Manitoba Pork Council is set to receive an investment of $482,158 from AgriRisk Initiatives (ARI), a five-year program under the Canadian Agricultural Partnership (CAP).
Based on the success of the project, the strategy may one day be implemented in other provinces’ swine sectors to increase economic sustainability for pork producers during periods of disease outbreaks.
“Manitoba Pork thanks the federal government for their support of this project, so that we can develop some private sector solutions to mitigate the economic impact of diseases and market fluctuations.”
– George Matheson, Chair of the Manitoba Pork Council
In order to help prevent diseases, hog farmers who have questions about their herd, or wish to learn more about animal care and swine health best practices, can find available tools and resources on the Manitoba Pork website.
Learn about AgriRisk Initiatives and the Canadian Agricultural Partnership (CAP)
The Canadian Agricultural Partnership program is a $3 billion investment from the federal, provincial, and territorial governments that is administered by Agriculture and Agri-Food Canada (AAFC) and provincial/territorial government departments. AgriRisk Initiatives (ARI) has approximately $55 million in program funding to support the development of new risk management tools.
To learn more about the different types of funding available for businesses – such as loans, grants, incentives, etc. – we encourage you to download Mentor Works’ Types of Government Funding slide deck. This resource will help pave the path to getting started with your own funding journey.
Compare and contrast the various types of government funding for businesses.
