The federal government is giving farmers affected by the rail transportation challenges more time to repay their cash advances if they were administered through the Canadian Canola Growers Association.
Agriculture Minister Gerry Ritz yesterday announced a six-month stay of default, which pushes back the repayment deadline from September 30, 2014 to March 31, 2015.
The stay was granted at the request of the CCGA.
"Many farmers have faced challenges selling their 2013 crops and for these farmers meeting a September 30th repayment deadline is almost impossible," said Saskatchewan farmer and CCGA president Brett Halstead. "This deadline extension is greatly appreciated by farmers and will lessen the financial worries that many are facing with grain still being held in their bins waiting for a marketing opportunity to open up and many facing excess moisture problems at the same time."
The CCGA administers advances for multiple crops, including barley, beans, buckwheat, canaryseed, canola, chickpeas, durum, Ethiopian mustard (carinata), fababean, flax, hemp seed, lentils, mustard, oats, peas, rye, soybean, timothy hay (for export), millet, triticale, wheat, and winter wheat.
Source: PortageOnline