Government of Canada Helps Grain Industry Reduce Financial Risk

Picton, Ontario – Agriculture and Agri-Food Canada (AAFC)

Canada's grains and oilseeds sector is a global supplier of high quality, safe and nutritious agri-food products and is a major economic force in Canada, creating jobs, wealth and opportunities. The Government of Canada is committed to working with industry partners and the private sector to explore and develop new risk management tools that meet the needs of Canadian farmers.

Member of Parliament for Bay of Quinte, Neil Ellis, on behalf of Agriculture and Agri-Food Minister, Lawrence MacAulay, announced a federal investment of up to $355,710 for two projects funded through AgriRisk Initiatives under the Growing Forward 2 agreement.

The investment included $197,400 to Soy Canada to develop a profile of the soybean industry, including the current and potential risks producers face, both short and long term.

In another project, $158,310 was provided to the Grain Farmers of Ontario (GFO) for a feasibility study concerning revenue declines not currently covered under the current suite of business risk management programs.

Today’s announcement is part of the Minister’s cross country "Growing Canadian Agriculture" tour which started in Quebec last week and ends in British Columbia on July 17.

The Minister is meeting with farmers, processors and industry leaders, as well as participate in rural agricultural events, to highlight strategic federal agricultural investments and programs - including those recently launched under the Canadian Agricultural Partnership—and how they will help to build an even stronger and more innovative sector for Canada.