Federal Government Boosts Loans for Canola Farmers Amid China Tensions

(Kristy Kirkup – Canadian Press)

The federal Liberals promised Wednesday to give Canada’s canola farmers financial aid to lessen the impact of China’s decision to ban their products as part of a trade dispute with no end in sight.

The changes made to a program that advances farmers money against the expected value of their crops will raise loan limits to $1 million from $400,000, and the portion that will be interest-free is rising to $500,000 from $100,000.

Producers praised the changes on Wednesday, saying they will help farmers get through a tough spot.

“Hopefully we won’t need any more help and hopefully the market smartens up and we’re able to get our crop in and sell it at a good price,” said Todd Lewis, president of the Agricultural Producers Association of Saskatchewan. Click here to read more.