Federal Government's Stay of Default Details For 2018 Advance Payments Program

Mar 31, 2020

The Federal Government announced a stay of default last week on repayments for the 2018 Advance Payments Program giving farmers another six-month extension.

Rick White, President, and CEO of the Canadian Canola Growers Association says farmers won’t have to do anything in order to take advantage of the extension.

“They do still continue to enjoy and take advantage of the interest-free portion of 2018 that is included in the extension. The rollover provision to move their 2018 into 2019 is still in play; although the deadlines for both those programs are now going to be at the end of September. So, those are lined up on the same date. So now both 2018 and 2019 will come due on September 30.”

He notes there are still a number of outstanding payments that are owed under the program through the CCGA.

“In our instance, there are still about 1600 farmers with 2018 balances, that amounts to about $136 million left outstanding. So those 1600 farmers with that money outstanding will now have an extra six months to pay that debt down as they, deliver that grain.”

White says farmers who have questions about their cash advance should contact the CCGA or their program administrator.

Click here to see more...

Video: A new era in biostimulants and bionutritionals

In response to the growing need for efficient, effective biosolutions, HGS BioScience continues to expand its footprint in the bionutritional and biostimulant market with the acquisition of NutriAg, Ltd. The Paine Schwartz Partners-backed HGS BioScience is a global leader in humic and fulvic acid products. Toronto-based NutriAg is an innovator in bionutritional technologies with a deep R&D engine. North American growers and retailers will benefit from:

• Solutions across the biostimulant spectrum - including humics, fulvics, bionutritionals, carbohydrate chelation, amino acids, plant and seaweed extracts, and microbial technologies.
• A portfolio and R&D pipeline of science-backed solutions proven to drive crop productivity and farm profitability.
• Actionable nutrient insights and recommendations based on data specific to their farm and cropping goals with the NutriAnalytics platform