Producers who have been unable to sell their crops due to rail transportation challenges now have more time to repay their 2013 cash advances under the Advance Payments Program (APP). Agriculture Minister
The six-month Stay of Default, which extends to
Producers who received a 2013 APP advance from the CCGA are eligible for the Stay and are encouraged to contact the CCGA for more details.
-- Last year's Western Canadian crop, at 76 million tonnes, was 50 per cent
higher than average. This volume put significant pressure on Western
Canada'sgrain handling and transportation system. -- The APP is a financial loan guarantee program that provides producers easier access to credit through cash advances. Under the APP, producers can receive cash advances of up to $400,000on the value of their agricultural product, of which the first $100,000in each crop year is interest free. The deadline to repay the 2013 APP advances is September 30, 2014. -- The CCGA administers advances for a number of crops including barley, beans, buckwheat, canaryseed, canola, chickpeas, durum, Ethiopian mustard (carinata), fababean, flax, hemp seed, lentils, mustard, oats, peas, rye, soybean, timothy hay (for export), millet, triticale, wheat, and winter wheat. Quotes
"Our Government has taken immediate, concrete action to get grain moving faster and to improve the performance of the entire rail supply chain in order to help farmers get their crops to market. This extra time will give producers a bit of breathing room to sell their 2013 crop and meet their financial obligations."
- Agriculture Minister
"The APP is an extremely valuable program for farmers, helping them to market their crops more effectively. However, the shipping challenges that many farmers are facing right now make it almost impossible to meet the impending repayment deadline of
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FOR FURTHER INFORMATION PLEASE CONTACT:
Jeff EnglishDirector of Communications Office of the Honourable Gerry Ritz613-773-1059 Media Relations Agriculture and Agri-Food Canada Ottawa, Ontario613-773-7972 1-866-345-7972 Follow us on Twitter: @AAFC_Canada Source: Agriculture and Agri-Food Canada