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‘Its all about cash flow right now’: Canada’s farm industry reacts to Prime Minister's pledge to aid

Reference: CTV News

SASKATOON -- With global concern rising in the Agri-food industry, some Saskatchewan farmers breathed a sigh of relief when Prime Minister Justin Trudeau announced financial aid is imminent during uncertain times as Covid-19 spreads.

Monday morning Trudeau announced the Canadian government, alongside Farm Credit Canada (FCC) will work together for an additional $5 billion dollar lending capacity to help aid farmers.

“It’s all about cash flow right now,” said Agricultural Producers Association of Saskatchewan President (APAS) Todd Lewis.

The lending capacity for Agri-food businesses along with a six month extension is set to cost $173 million dollars in deferred loans to help the growing financial concern of farmers in western Canada.

Its welcome news to Lewis, who, like many other Canadians in the food sector, is vulnerable to the growing list of issues brought on by the novel coronavirus pandemic.

As a farmer, Lewis has dealt with the challenges of shipping constraints due to Covid-19, but believes getting food to Canadians must remain of the utmost importance.

“We’ve had lots of shipping issues, farmers are concerned that in spite of Covid-19, our transportation corridors remain open,” said Lewis... Read More