(File photo/farmnewsNOW Staff)

By Jaryn Vecchio

New Funding

Federal, provincial, and territorial ministers agree on new funding for agricultural partnership

Jul 23, 2022 | 8:00 AM

Sustainable Canadian Agricultural Partnership is getting $500 million in new funding.

The federal, provincial, and territorial (FPT) Ministers of Agriculture met this week, eventually reaching an agreement in principle. FPT had already contributed $3 billion for the multi-year partnership.

“As the provincial-territorial co-chair, we are pleased with the increased funding all parties have committed to today,” said David Marit, Saskatchewan’s Minister of Agriculture.

They also agreed to improve Business Risk Management (BRM) programs which include raising the AgriStability compensation rate from 70 per cent to 80 per cent.

They also agreed in principle to the $250-million Resilient Agricultural Landscape Program to support ecological goods and services provided by the agriculture sector.

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The new agreement includes stronger greenhouse gas emissions reduction targets, increasing sector competitiveness, revenue, and exports, and increased participation of Indigenous peoples, women, and youth.

“The path forward leverages regional strengths and diversity to rise to the climate change challenge, support Canadian producers, capture new markets and meet the expectations of consumers at home and abroad,” added Marie-Claude Bibeau, federal Minister of Agriculture and Agri-Food.

Along with the agreement, the FPT discussed ways to make Canada a more dominant supplier of food across the globe. Discussions focused on market access, food supply chain, and trade issues.

“I believe we have found the proper balance between economic and environmental objectives to ensure our industry remains globally competitive,” added Marit. “This balance will be vital as Canada’s producers seek to provide the food the world needs.”

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Jaryn.Vecchio@pattisonmedia.com

On Twitter: @princealbertnow