Farms.com Home   Ag Industry News

Growing Forward 2 Boosts Northwest Territories Agriculture

N.W.T. Agriculture Sector Set to Receive $1.2 Million Per Year

By , Farms.com

Who knew that the agriculture could be so brought in the Northwest Territories, but with the help of the new five-year Growing Forward 2 agreement will mean $1.2 million per year is given to the agriculture sector in the N.W.T. and will be an increase of nearly $500,00 per year.

"This will be able to pick up some of the slack or fill in some of the areas were producers can’t access funding through our program. There is the opportunity for them to look for other funding options, as well to get themselves started and to get themselves established and continue to grow the industry,” said Andrew Cassidy, Executive Director for the Territorial Farmers Association.

This announcement is good news for farmers in the region and will hopefully bring more attention to the viability of the regions agriculture resources.

"This is basically the government of the Northwest Territories saying we recognize that this is a viable industry, we are here to help support the industry. We have leveraged some additional funds over the years from the federal government."

With Canada home to prime agriculture farmland, you don’t often hear about agriculture in the N.W.T. Instead you hear about the Western Provinces like Alberta, Saskatchewan, Manitoba and Ontario agriculture. The government has made a step in the right direction with providing support to all areas in Canada that have agriculture as a viable option.


Trending Video

U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again


The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!