Oct. 30, 2009
FREDERICTON (CNB) - Hog farmers in the province will have early access to additional 2009 AgriStability funding. The federal and provincial governments will advance up to 75 per cent of estimated 2009 payments, meaning that an additional $1.2 million in assistance is being made available to the industry.
"With the challenging times that New Brunswick hog farmers are facing, their need for assistance is immediate," said Agriculture and Aquaculture Minister Ronald Ouellette. "I am pleased that we are able to react quickly to provide them with the funding required to help them manage the effects of the economic downturn."
Under AgriStability, the Government of Canada and the Province of New Brunswick are jointly implementing 2009 targeted advance payments. New Brunswick pork producers will soon be receiving a letter advising them of the advance that they will be eligible to receive. The deadline to apply is Dec. 31, 2009.
"We are pleased to make this money available to New Brunswick farmers," said federal Agriculture Minister Gerry Ritz. "Targeted advances are one of the ways we have made our programs more flexible and better able to help Canadian farm families."
The additional funding reflects the commitment made in summer to adjust payment rates based on a producer's need for further advances, and demonstrates ongoing support of an industry that is important to New Brunswick and Canada. Through the 2009 targeted advance payments, eligible producers in New Brunswick will have access to an estimated $3.3 million in funding, with $2.1 million having been offered earlier in the year.
AgriStability is a business-risk-management program under Growing Forward, a federal-provincial-territorial initiative. The program is designed to help farmers deal with income reductions by providing assistance when their margins fall below average.
MEDIA CONTACTS: Bruce Melanson, communications, Department of Agriculture and Aquaculture, 506-462-5042; Agriculture and Agri-Food Canada, 866-367-8506.