Quebec’s provincial farm lending agency is set to offer a six-month moratorium on loan repayments to any customers who ask for one, against what it describes as a “crisis” for the ag sector. La Financiere agricole du Quebec (FADQ) said Saturday the six-month stay would help lighten the obligations for farm businesses, providing them liquidity […] Read more
Quebec ag lender offers break on loan payments
Crop insurance enrolment deadline also postponed
Saskatchewan pares ag spending in estimates
Spending estimates released without revenue forecasts
Saskatchewan expects to pull back its spending on agriculture by about $22.4 million in its 2020-21 budget year, mainly in a reduced outlay on business risk management (BRM) programs. Provincial Finance Minister Donna Harpauer on Wednesday tabled the province’s 2020-21 spending estimates with the “unusual step” of not including revenue forecasts, citing the current COVID-19 […] Read more
Business risk management program reforms in development
Changes expected to be announced in July
Recommendations are now being crafted for Agriculture Minister Marie-Claude Bibeau on how to improve business risk management (BRM) programs for farmers in Canada. It’s expected changes to BRM programs will be announced in July when Bibeau and her provincial counterparts meet in Guelph. The recommendations are coming after a study by MPs on the Commons […] Read more
B.C. to punch up AgriStability
Reference margin limit eliminated for 2019, 2020
British Columbia plans to make another $9 million available to farmers through “enhancements” to AgriStability for the 2019 and 2020 program years. The province on Thursday announced it will increase the compensation rate available through the federal/provincial income stabilization program from 70 per cent to 80 per cent when margins fall below the 30 per […] Read more
Fraser: Bibeau buying time, BRM not a federal priority
The federal government is buying time when it comes to making drastic improvements to AgriStability and other business risk management (BRM) programs. Federal Agriculture Minister Marie-Claude Bibeau recently announced minor, cost-free tweaks to AgriStability, during the same week the public was given an updated look at Canada’s fiscal situation. That update shows the Liberal government’s […] Read more
Grain groups give low marks to AgriStability tweaks
Ottawa — A recent meeting of the country’s agriculture ministers failed in providing effective support for farmers facing challenges, Grain Growers of Canada chair Jeff Nielsen says. Only minor changes were made to AgriStability, the main priority item on the agenda for the Ottawa meeting held Tuesday. Federal Agriculture Minister Marie-Claude Bibeau and her provincial […] Read more
Feds, provinces plan minor tweaks to AgriStability
Ottawa — Minor changes are coming to AgriStability following Tuesday’s meeting between federal Agriculture Minister Marie-Claude Bibeau and her provincial counterparts. Major changes, however, will have to wait. A full review of federal business risk management (BRM) will be completed in April, with the findings discussed when the federal, provincial and territorial ministers meet again […] Read more
Liberals pledge revamp of federal farm lender
The federal Liberals’ platform heading into the Oct. 21 election calls for an “expanded and enhanced” role for Farm Credit Canada in supporting the country’s agriculture and agrifood sectors. Platform documents released Sunday last week (Sept. 29) call for the merger of several existing federal financial and advisory services — which the Liberals said are […] Read more
Ag ministers aim for AgriStability upgrades for 2020
Coming out of their meeting in Quebec City, Canada’s federal, provincial and territorial ministers for agriculture say they plan to meet again before year’s end to see about improving the AgriStability program for 2020. In a statement Friday, the ministers said they discussed “adjustments that could improve existing (business risk management) programs to address the […] Read more
China, drought, debt shake Canadian farm finances
Winnipeg/Ottawa | Reuters — For years, the financial stability of Canadian farmers was the envy of their U.S. counterparts, but rising costs, drought and a dispute with China have weakened their bottom lines. Net incomes plunged last year, and that setback was followed in March by China’s halting purchases of canola, Canada’s biggest crop. Now […] Read more
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