Monday, May 3, 2021

FCC helps maple syrup producers

Maple syrup producers in Quebec and the Maritime provinces had a terrible season, so Farm Credit Canada said it is willing to work with them “to come up with solutions for their operations and will consider deferral of principal payments and/or other loan payment schedule amendments to reduce financial pressures on producers impacted by unfavourable weather.”


The season was short and warm, water content was high and syrup prices were down.


“We have been monitoring this situation closely and understand the challenges that come with the business,” said Sophie Perreault, FCC executive vice-president and chief operating officer.

She said the FCC is “ready to step up and support customers in need.”


The overall maple syrup production this season is estimated to be around 75 per cent of the historical average yields. Some producers are experiencing half their normal production while others are near normal. The situation varies from region to region.