Agriculture and Agri-Food Canada

Agriculture and Agri-Food Canada

November 09, 2009 18:25 ET

Advance Payments Program Deadline Extended for Saskatchewan Farmers

OTTAWA, ONTARIO--(Marketwire - Nov. 9, 2009) - Cash-strapped farmers in Saskatchewan who are unable to harvest their crops due to poor weather now have more options and time to access a cash advance through the Advance Payments Program (APP).

"With the unusual wet conditions in Saskatchewan, many farmers are left with no harvested crop to sell and no cash on hand," said Minister Ritz. "We've worked with participating producer organizations to give producers more flexibility in accessing cash advances to help them meet their financial obligations."

The changes will allow producers who typically get an advance in the fall on their harvested crop to get an advance on their un-harvested crop now. To secure the cash advance, producers must have valid production insurance or participate in a business risk management program (i.e. AgriStability).

Saskatchewan Crop Insurance recently announced a 2 week extension to the November 15 deadline to apply for a production insurance extension for "overwintering" protection.

Changes to the Advance Payments Program (APP) include:

- Producers now have until January 29, 2010 to apply for a pre-production APP advance on the expected market value of their unharvested crops, provided they have valid crop insurance.

- The deadline for producers to submit the post production report to their APP administrator has also been extended to June 30, 2010.

The Advance Payments Program is a federal loan guarantee program that helps crop and livestock producers get easier access to credit through cash advances. This enables producers to meet their financial obligations and benefit from the best market conditions by improving their cash flow throughout the year. Cash advances under APP are delivered through producer organizations across the country.

Contact Information

  • Agriculture and Agri-Food Canada
    Ottawa, Ontario
    Media Relations
    Office of the Honourable Gerry Ritz
    Meagan Murdoch
    Press Secretary