The organization will consider payment deferrals to help producers affected by DON
By Diego Flammini
Staff Writer
Farms.com
Farm Credit Canada is taking steps to support Ontario corn farmers affected by a challenging harvest.
The organization announced that it will work with farmers to identify solutions “and will consider deferral of principal payments” and other measures to reduce the financial challenges attributed to a wet harvest and high levels of DON in the crop.
“Ontario producers faced multiple challenges this year, topped off by a difficult harvest and reduced quality of some of the crop,” Michael Hoffort, president and CEO of FCC, said in a statement today. “We want them to know FCC is here to help them through any financial hardship this adverse weather has created.”
Michael Hoffort
Growers welcome FCC’s support.
The 2018 corn harvest has been a difficult one, so any sort of assistance to help offset financial challenges is appreciated, said Scott Bowman, a corn grower from Middlesex County.
“It’s good that FCC is trying to help farmers compensate for the deficit (DON) is going to cause,” he told Farms.com. “If your parts per million levels are high enough, you’re going to have your grain rejected. I have enough in my crop that it’s been brought to Agricorp’s attention.”
Scott Bowman
Canada’s federal ag minister is also appreciative of FCC’s actions.
Adverse weather can have lingering effects on crop production, said Lawrence MacAulay, Canada’s minister of agriculture.
“As a former grower, I know first-hand how much the weather can affect not only short-term revenue, but also the financing to put next year’s crop in the ground,” he said in a statement today. “That’s why it’s important to have FCC as a strong and stable partner that understands that sometimes unpredictable and cyclical nature of farming.”
FCC is encouraging Ontario corn growers to contact their FCC representatives or to call 1-888-332-3301 to discuss payment options.