On Wednesday, Minister of Agriculture and Agri-Food Marie-Claude Bibeau announced the launch of the Supply Management Processing Investment Fund, worth $292.5 million, to help processors of supply-managed commodities.
“Our government strongly supports supply-managed sectors and, as promised, we are rolling out various programs to compensate producers and processors who have lost market share further to trade agreements. Today, we are announcing the terms of support for dairy, poultry and egg processors to promote investment in their operations and thereby improve their competitiveness and resilience,” said Bibeau.
The Supply Management Processing Investment Fund is part of the Government of Canada’s commitment to support processors in these sectors to address the impacts of international trade agreements.
Through this program, processors of supply-managed commodities will have access to funding to improve their productivity and efficiency through investments in new automated equipment and technology. The Fund leverages private investment in processing plants to accelerate adoption of automation to lower processing costs, address labour shortages and enhance product quality.