Federal Agriculture Minister Gerry Ritz announced last week that the Canadian government will grant an additional CAD1b (US$1m) in loans to the struggling pork and cattle producers.
Producers could receive up to CAD400,000 (US$400,900) each. The first CAD100,000 (US$100,183) being interest-free.
The scheme attempts to help pork and cattle producers who have been badly affected by rising feed costs and a strong Canadian dollar and subsequent lower exports.
Some Canadian farm groups expressed concern that more debt isn’t what all farmers need at the present time.
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