According to Agriculture and Agri-Food Minister Marie-Claude Bibeau, regulations are now in place for the changes to the Advanced Payments Program (APP) announced at the beginning of May. The original changes were an increase to the APP cap from $400,000 to $1,000,0000 for all producers in an effort to help farmers in the face of current trade issues with China. The interest-free portion on canola advances has now been revised from $100,000 to $500,000.
Now that the regulations are ironed out, government officials are working with the 36 program administrators to revise contracts, operating procedures, and to ensure system changes are properly implemented, the government says.
Producers will be able to apply for the new amounts as early as June 10 and new advances above $400,000 will be issued as of June 26.
“We thank Minister Bibeau for her efforts to bring the regulations into force on May 29, and for having the increased limits under the APP available to farmers beginning June 26, 2019,” says Bernie McClean, president of Canadian Canola Growers Association (CCGA). “Time is of the essence, with uncertainty over markets and farm cash flow being such a big concern for farmers this year.”
A two-month extension to the AgriStability enrolment deadline was also announced last month, allowing producers to enrol for this year’s program year without penalty as late as July 2, 2019.