Manitoba announces tariff supports, expands farm loan programs

The Manitoba Agricultural Services Corporation (MASC) will be increasing the Operating Credit Guarantee Program to $3 million for individuals, corporations and partnerships. The guaranteed portion of loans under both the Operating Credit Guarantee Program and Diversification Loan Guarantee program will move to 33.33 per cent from 25 per cent.

MASC’s Diversification Loan Guarantee Program will expand to include grain and oilseed operations and allow “investment in primary agricultural infrastructure in Manitoba” for an eligible purpose. The loan amount under MASC’s Diversification Loan Guarantee Program will jump to $5 million from $1.5 million.

Kostyshyn said the government will be working with Manitoba honey producers to implement sector-specific support.

Keystone Agricultural Producers (KAP) President Jill Verwey said the government has shown its committment to working with the agriculture industry, particularly with the uncertainty and challenges being faced by Manitoba farmers and those especially hard-hit sectors.

“Agriculture is a capital-intensive business, and this commitment to help support farmers as well as making these increases to loan guarantees will mean crucial access to capital and operating dollars that farmers need now,” Verwey said. “KAP will keep working closely with the department and the minister’s office to ensure support for producers is timely and structured in a way that works for their operations.”

Manitoba Pork General Manager Cam Dahl said pork and pigs are still flowing into the U.S. tariff-free but uncertainty is putting a damper on the ability of producers to invest in new capacity on the farm as well as the ability of processors to invest in new processing capacity.

“We saw a recent announcement from the government of Manitoba that was really designed to help do two things,” Dahl said. “One is to support industries that are directly impacted by tariffs. But there’s a second part to that suite of programming that was announced and that’s to help support measures to increase the capacity here in Manitoba, things like supporting increased finishing spaces here in Manitoba to support increased processing here in Manitoba.”

Dahl said the MASC’s loan guarantee program increase and the percentage of new capital projects that can be covered by that programming are positive moves and something that Manitoba Pork has been working with the government for some time.

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alice.mcfarlane@pattisonmedia.com

by Alice McFarlane

Manitoba announces tariff supports, expands farm loan programs

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