Stay Of Default Announced For Cash Advances – for Oct. 11, 2010

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Agriculture Minister Gerry Ritz has announced that crop farmers who are unable to access their granaries in order to haul their product due to wet or flooded road and fields now have more time to repay cash advances under the Advance Payment Program (APP).

A stay of default on the repayment of advances applies until January 31, 2011 for crop producers in British Columbia, Alberta, Saskatchewan and Manitoba who have received a 2009 advance through the Canadian Canola Growers Association (CCGA).

The stay of default was granted following a request from the CCGA to allow the ground to freeze and enable the affected farmers to get to their bins to market their products.

The stay of default came into effect on October 1, 2010, and farmers of more than 25 crops, including canola, oats, flax, rye, mustard, buckwheat, and canary seed are eligible. Crop farmers who received a 2009 APP advance from the CCGA and are adversely affected by the ongoing wet conditions are eligible for the stay.

Farmers should contact the CCGA for more details.

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