In light of the significant hurdles Canadian producers have faced, including rising input prices and interest rates, the federal government has increased the interest- free limit of the Advanced Payments Program for farmers.

Lawrence MacAulay, federal minister of Agriculture and Agri-Food, announced on March 25 that for the 2024 program year, the interest-free limit of the program has been set at $250,000.

“In the face of so many challenges, our hardworking producers continue to show their resilience and produce top-quality products for Canadians, and the world,” MacAulay said in the release. “Increasing the interest- free portion

of the Advanced Payments Program means improved cash flow and savings for farmers as we head into the 2024 planting season.”

The Manitoba Pork Credit Corporation says for hog farmers, who have faced high feed and input costs, it’s welcome relief.

“We are pleased to see the federal government recognize these challenges and act to provide producers with access to capital that can be used with less interest,” said Cam Dahl, chief executive officer of the Manitoba Pork Credit Corporation and Manitoba Pork’s general manager, in a press release sent out on March 26.

These projects aim to enhance sustainability, resiliency, and competitiveness within the agriculture and agri-food sectors. They also use technologies and products that improve efficiency and sustainability while tackling challenges such as climate change.

This type of innovation drives growth and economic development in rural Manitoban communities, Kostyshyn said.

“Manitoba researchers are leading the way with innovative ways to make life more productive and more profitable for producers. We’re investing in them so they can better feed Manitoba and feed the world.”

Researchers at the University of Manitoba have welcomed news of the financial support that will help them develop sustainable and environmentally conscious agricultural systems and tools that will benefit consumers and producers, Dr. Martin Scanlon, dean of the university’s Faculty of Agricultural and Food Sciences, said.

“The training opportunities enabled by these projects will ensure our students play a pivotal role in the future of the Canadian agricultural landscape.”

Funding for these projects is earmarked for stakeholders including primary producers, agri-processors, industry organizations, academic institutions and research bodies, industry service providers and Indigenous governments, communities, and groups.

A call for letters of intent under the Research and Innovation Program is open for innovative industry-led research, development and capacity- building project ideas

to receive funding, which will be rolled out next spring.

In April of last year, more than $8.4 million supported 47 projects across the province. The March 21 announcement gave a further $7.9 million to 54 projects, bringing the project total up to 101 at $16.3 million under the Research and Innovation Program.

The Sustainable Canadian Agricultural Partnership represents a five-year, $3.5-billion investment by Canada’s federal, provincial, and territorial governments to financially support Canada’s agri-food and agri-products sectors. This includes $1 billion allocated to federal programs and activities, with an additional $2.5 billion commitment, shared 60 per cent federally and 40 per cent provincially-territorially, for programs designed and delivered by provinces and territories.

By Miranda Leybourne, Local Journalism Initiative Reporter

Original Published on Apr 04, 2024 at 07:49

This item reprinted with permission from   Brandon Sun   Brandon, Manitoba

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