OTTAWA (Rural Roots Canada) – Help is on the way for canola producers affected by the on-going saga with China.
The Federal Government has announced it is increasing the loan limits under the Advance Payments Program from $400,000 to $1-million on all commodities. Advances on canola will also be interest-free up to $500,000.
All other commodities will not have their interest free levels raised, keeping them at $100,000.
The announcement comes during trade and diplomatic disputes with China, who has blocked imports of canola seed from Richardson International and Viterra.
China is Canada’s largest export market for canola.
Agriculture and Agri-Food Minister Marie-Claude Bibeau says farmers deserve their support as they work to maintain full market access to China and create new opportunities for them to grow their business.
“We are ensuring that farmers have the security they need leading into this year’s season to help manage their cash flow, giving them the flexibility to sell their canola at the best time and at the best price,” says Bibeau.
Canola Council of Canada President Jim Everson says they are pleased that the federal government listened to their recommendations and announced additional support.
Bibeau says she will be meeting with industry leaders from Japan and leaders from other countries to advance trade, while at the G20 Agriculture Ministers meeting.
Minister of International Trade Diversification Jim Carr has also announced he will be leading a canola trade mission to Japan and South Korea in early June.