The federal government has approved millions of dollars in temporary interest rate relief for farmers to help them recoup higher-than-usual production costs rising as a result of inflation.
“Canadian producers have been facing higher costs of production brought on by general inflation,” Agriculture and Agri-Food Canada, the federal agriculture department, wrote in a Regulatory Impact Analysis Statement, as first reported by Blacklock’s Reporter.
“Year-over-year volatility has created cumulative pressures for farms, most of which are farm families facing inflation of household expenses as well,” added the statement, which was included in a regulatory notice posted to the Canada Gazette on May 24, announcing an amendment to the Agricultural Marketing Programs Regulations (2023)….