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CAN: Compensation for Lost Product

CAN: Compensation for Lost Product

The governments of Canada and Ontario are helping the province’s greenhouse industry meet consumer demand for high-quality floral products by supporting an innovative, private sector risk management fund. The industry-designed GreenCHIP fund will provide compensation for lost product and business interruption in the event of a quarantine ordered by the Canada Food Inspection Agency. Flowers Canada Growers will manage the fund, which will help growers market consistent, high-quality products while managing their unique business management risks. Funding for the GreenCHIP project is provided through AgriRisk Initiatives under Growing Forward 2, which supports the implementation of new risk management tools for use in the agriculture sector. Ontario is the third largest producer of greenhouse floricultural products in North America, behind California and Florida. The greenhouse flower industry is now Ontario’s seventh largest agricultural sector. In 2012, the industry employed about 8,505 people (5,040 seasonal and 3,465 full-time). (Source: news.ontario.ca)