The federal agriculture minister says higher cash advance limits for farmers under the Advance Payments Program should be available by the last week of June.
Regulatory changes are now in place to boost the maximum loan from 400-thousand dollars up to 1-million, as well as raising the interest-free portion for canola to 500-thousand dollars.
The original announcement was made on May first, in response to China’s decision to stop buying Canadian canola seed.
The new applications can be filed with program administrators starting next Monday. However, it will be June 26th before any cheques are issued.
(CJWW)