Monday, May 25th16.9°C
25936
25998

Farmers hit by flooding, rail delays given more time to repay cash advances

OTTAWA - Western farmers unable to market last fall's crop due to rail delays and other transportation issues due to flooding have been granted more time to repay their 2013 cash advances.

The federal government's Advance Payments Program fronts money to farmers based on the value of their agricultural products so as to improve their cash flow throughout the year.

Agriculture Minister Gerry Ritz says grain and oilseeds producers in Manitoba, Saskatchewan, Alberta and British Columbia are being given an extra six months to repay.

The six-month grace period also extends to producers who received an advance through the Manitoba Corn Growers Association.

The original repayment deadline of Sept. 30 has been moved to March 31 of next year.

Last year's harvest was 76 million tonnes — 50 per cent higher than average — and put significant pressure on grain handling and transportation.

Flooding across Saskatchewan and Manitoba further hampered crop movement due to limited access to roads and highways.

A repayment extension for producers who received cash from the Canadian Canola Growers Association was announced last month.

The Canadian Press


Read more Business News

26361


Recent Trending




Today's Market
S&P TSX15186.89-13.87
S&P CDNX700.98-2.50
DJIA18232.02-53.72
Nasdaq5089.36-1.43
S&P 5002126.06-4.76
CDN Dollar0.8123-0.001
Gold1204.30+1.30
Oil60.67-0.74
Lumber273.80+3.70
Natural Gas2.887-0.064

 
Okanagan Companies
Pacific Safety0.14+0.01
Knighthawk0.010.00
QHR Technologies Inc1.49+0.01
Cantex0.03-0.01
Anavex Life Sciences0.425+0.053
Metalex Ventures0.09+0.00
Russel Metals25.87+0.08
Copper Mountain Mining1.36-0.02
Colorado Resources0.105+0.005
ReliaBrand Inc0.0048-0.0049
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.175-0.010
Decisive Dividend Corporation2.20+0.60

 



26388

FEATURED Property
22164581105 3168 Via Centrale Road
2 bedrooms 2 baths
$249,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Cash stressed seniors

Photo: Thinkstock.comFor many Canadian homeowners, their house represents the biggest portion of their net worth. Now, increasing numbers of seniors are starting to recognize the hidden value of their...


Do or do not

Photo: Thinkstock.com“The optimist sees the rose and not its thorns; the pessimist stares at the thorns, oblivious of the rose.” - Kahlil Gibran Good planning is all about managing chan...


Penetrate the smokescreen

Photo: ContributedHas this ever happened to you? You’re in the middle of your second or third “good discussion” with a prospect. Everything’s going great. The prospect seems en...

_



26363

25482


Member of BC Press Council


24843