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Canada develops protective framework for farmers

19-Sep-2012

Related topics: Industry & Markets, Livestock, Financial, Canada

Canada’s agriculture ministers have agreed on a new plan to develop the country’s food sector and protect its farmers against future market volatility.

The Growing Forward 2 policy framework, which was agreed by the country’s federal, provincial and territorial agricultural ministers, will see government’s cost-shared initiatives increase by 50%, with over $3bn put aside for investment in innovation and market development.

The framework also includes plans to deliver Business Risk Management programmes providing cash flow assistance to farmers facing difficult market conditions and natural or economic disasters.

“Just as farmers continuously improve their business practices, so too have governments made adjustments to help Canada remain a world leader in agricultural innovation and trade,” said Federal Agriculture Minister Gerry Ritz.

“Growing Forward 2 will help drive economic growth and long-term prosperity through agricultural innovation and market development, while also ensuring governments continue to share the risk of severe market volatility and disasters.”

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