Rent reduced for Riders, early budget items approved by Regina Council
6h ago
Council retroactively slashed $1.33 million in rent owed by the Roughriders.
The Agricultural Producers Association of Saskatchewan (APAS) is welcoming the federal government’s announced increase to the Advanced Payments Program to help farmers stuck in the middle of the Chinese canola dispute.
“The cash advance program has been at $400,000 for a number of years now so this crisis has been kind of a catalyst,” APAS president Todd Lewis said.
While the new $1-million loan limit may seem significant, Lewis stressed it is a fraction of what producers spend annually.
“As we go into spring seeding here, (Saskatchewan) farmers are putting millions of dollars per farm into the ground, in some cases,” Lewis explained.
He sees the limit increase as a short-term tool to help producers dealing with the uncertain canola market in China.
“Hopefully we won’t need any more help,” Lewis told 650 CKOM. “Hopefully the market smartens up and we’re able to get our crop in and sell it at a good price.”
Lewis hopes a trade mission in June will bring a new customer base for canola to help steady the volatile market.