Starting in 2022, The Heat Advantage™ program will provide farmers up to a maximum of $100/acre of built-in protection against heat blast during the critical flowering development stage of canola
CALGARY, AB, September 1, 2021 – Corteva Agriscience, in its continuing commitment to those who produce, today announced a first-of-its-kind program for Canadian canola farmers – The Heat Advantage™ program, available exclusively with every bag purchased of Brevant™ seeds Nexera® canola. Beginning in 2022, The Heat Advantage™ will give canola farmers added peace of mind that their Brevant™ seeds Nexera® canola investment is automatically protected up to $100 per acre in the event of excess heat during the critical flowering development stage of canola.
“Excess heat during canola flowering is a common peril and can cause significant yield and revenue losses for Western Canadian canola farmers, which is why we’re introducing an innovative program to impact where it matters most – farmers’ bottom lines,” said Tyler Groeneveld, Commercial Leader Grain and Oils, North America, Corteva Agriscience. “With The Heat Advantage™, we’re giving our canola farmers one less thing to think about by helping them protect their seed investment and mitigate the cost of yield loss and other crop damage associated with hot weather extremes, which are becoming more common.”
The Heat Advantage™ program is available exclusively with Brevant™ seeds Nexera® canola to farmers in Alberta, Manitoba and Saskatchewan who book before October 29, 2021. The Heat Advantage™ program is insurance underwritten by Northbridge General Insurance Corporation and arranged for by Global Ag Risk Solutions using an industry-leading parametric temperature model, backed by 40 years of climate and canola yield information. The data-driven claims process uses reliable, third-party temperature data (more than 7,500 measurement points for extreme temperature reading accuracy) recorded daily during the critical flowering growth stage, which means farmers will be paid for covered claims quicky. In the event of excessive daytime or nighttime temperatures, growers will accumulate ‘Heat Blast Units’ (HBUs); if the HBUs recorded during the policy coverage period exceeds the index minimum, Global Ag Risk Solutions pays directly to the farmers who plants Brevant™ seeds Nexera® canola.
“Unlike other kinds of crop insurance, there is no time-consuming reporting process, no trips to the field, no yield measurement, and the farmer gets paid months ahead of traditional crop insurance,” said Grant Kosior, President and CEO of Global Ag Risk Solutions. “We applaud Corteva Agriscience for demonstrating that it truly supports ‘those who produce’ by offering this novel program—exclusive built-in heat blast protection with every bag of Brevant™ seeds Nexera® canola sold with The Heat Advantage™.”
Heat blast affected nine in 10 canola townships across Canada and resulted in a nationwide loss of more than 50 million bushels and $525 million in combined revenue, according to 2020 data from Global Ag Risk Solutions.1 Numerous studies on the impact of climate change suggest that most regions of Canada are projected to increase average temperatures during the next 60 years.2 In fact, the southern and central Prairies are projected to see more warming than most other regions.3
The Nexera® canola trait, available exclusively in the Brevant™ seeds brand, has offered Western Canadian canola farmers high yields and profitable marketing opportunities for over 25 years. Canada is the world leader in canola exports, meeting end-use demand across North America and around the world for high-stability, heart-healthy Omega-9 oil.4 Experts anticipate the demand for canola oil will continue to increase, due to its many advantages to the food industry and consumers, including health impact and increased versatility.5
“Brevant™ seeds Nexera® canola produces Omega-9 Oil, the gold standard in the North American food industry for sensory, health and performance benefits. Our high yielding hybrids, combined with strong processor-paid premiums due to strong market demand, makes our canola one of the most profitable options for Canadian farmers. Now, we are adding more peace of mind and a better return per acre, through The Heat Advantage™, by committing to be the only seed brand in Canada to share the risk of canola heat blast,” said Tyler Groeneveld. “With demand for canola on the rise, Canadian growers have a bright future. To help enable that future, we’re bringing farmers a first-of-its-kind, turn-key program to help protect their Brevant™ seeds Nexera® canola seed investment.”
More information about The Heat Advantage™, included exclusively with every purchase of Brevant™ seeds Nexera® canola, can be found at www.brevant.ca/nexera.
For more information on Global Ag Risk Solutions and parametric insurance, visit:
https://agrisksolutions.ca
https://parametrics.ag/
About Corteva Agriscience
Corteva Agriscience is a publicly traded, global pure-play agriculture company that provides farmers around the world with the most complete portfolio in the industry - including a balanced and diverse mix of seed, crop protection and digital solutions focused on maximizing productivity to enhance yield and profitability. With some of the most recognized brands in agriculture and an industry-leading product and technology pipeline well positioned to drive growth, the company is committed to working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva Agriscience became an independent public company on June 1, 2019 and was previously the Agriculture Division of DowDuPont. More information can be found at www.corteva.com
Follow Corteva Agriscience on Facebook, Instagram, LinkedIn, Twitter and YouTube.
About The Heat Advantage™
Offered exclusively with Brevant™ seeds Nexera®, The Heat Advantage™ provides up to $100/acre in the event of excess heat during the critical flowering development stage, as determined by Global Ag Risk Solutions. The Heat Advantage™ is available with Brevant™ seeds Nexera® canola booked prior to October 29, 2021, and grown in Alberta, Manitoba and Saskatchewan in 2022. www.brevant.ca/nexera.
The Heat Advantage program is insurance underwritten by Northbridge General Insurance Corporation and arranged for by Global Ag Risk Solutions Corp under a policy to be issued to Corteva Agriscience Canada Company with effect on January 1, 2022. Policy terms, conditions, and exclusions apply. The Heat Advantage program is subject to change upon notice.
Farmers are encouraged to contact their leading grain company for more information on program specifications and delivery. More information can also be found at www.brevant.ca/nexera.
™ ® ℠ Trademarks and service marks of Corteva Agriscience and its affiliated companies.
1Source: Based on estimates from Global Ag Risk Solutions. In 2020, 6,763 of 7,518 (90%) canola-growing townships experienced at least one full day of heat that exceeded the maximum temperature thresholds of 29°C of daytime heat and 17°C of overnight heat exposure.
2https://agriculture.canada.ca/en/agriculture-and-environment/climate-change-and-air-quality/climate-scenarios-agriculture
3Ibid.
4Canola industry in Canada, from farm to global markets (canolacouncil.org)
5Canada's canola industry sets bold new targets for 2025 | The Canola Council of Canada
Kris Allen
Communications Leader
403-483-5205
kris.allen@corteva.com