Glacier FarmMedia — Farm Credit Canada has extended its Trade Disruption Customer Support program to canola producers.
Why it matters: China’s tariffs on Canadian canola seed, which may effectively shut the door to that market, could put pressure on cash flow and operations for farmers and agribusiness.
The federal crown lender announced Aug. 19 that its decision comes after continued global trade disruption, including new Chinese tariffs on canola seed.
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Chief executive officer Justine Hendricks said the uncertainty creates real pressure on cash flow and operations for farms, agribusinesses and food processors.
“Our role is to ensure our customers, and the broader industry, have access to the capital and flexibility they need to adapt, stay competitive and keep delivering high-quality products to markets at home and abroad,” she said.
Existing customers and new clients who meet the lending criteria are eligible for the additional help. This includes access to an additional credit line of up to $500,000 and new term loans. Existing customers may defer principal payments for up to 12 months on their loans.
FCC said it will continue to work with industry partners to navigate changing market conditions.
