(Alice McFarlane/farmnewsNOW)

By Alice McFarlane

Canadian canola

Administrators of cash advance await details

May 1, 2019 | 3:44 PM

The group that administers the cash advance program will be ready to help farmers once the information is finalized.

A series of enhancements to the Advance Payments Program (APP) that support farmers facing cash flow challenges in Canada’s grains and oilseeds sector were announced today.

The changes include increasing the maximum allowable limit from $400,000 to $1 million, and expanding the program’s interest free component for canola growers from $100,000 to $500,000 until market conditions stabilize. The interest free component will remain at $100,000 for all other commodities.

Canadian Canola Growers Association (CCGA) president and SaskCanola director Bernie McClean said in a news release the changes provide some immediate help.

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“The current market situation is creating great uncertainty for farmers,” McClean said. “With cash flow being farmers’ most immediate concern, we welcome enhancements that will help build financial predictability for at least the short to medium-term.”

CCGA CEO Rick White said the Canola Working Group established by Agriculture Minister Marie-Claude Bibeau focused on a number of short, medium and long-term tools that could help farmers and the wider industry manage through the current market access issues with China.

“With planting just getting started and higher than normal stocks of last year’s canola crop remaining in farmers’ bins, we’re pleased to see actions being taken on the recommendations of the working group,” White said. “We’re already working on the necessary changes to our systems so that farmers can access these benefits quickly,”

White expects CCGA will be in a position to process applications at the new limits in the near future.

Farmers are encouraged to go to www.ccga.ca for updates or call 1-866-745-2256 to speak with a CCGA Contact Centre representative.

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alice.mcfarlane@jpbg.ca

On Twitter: @AliceMcF