Farm Credit Canada has announced it will offer canola growers an additional $500,000 worth of loans to help them through cash-flow challenges brought on by China’s crippling new tariff on canola seed.
China earlier placed heavy tariffs on canola oil from Canada.
Both tariffs are interpreted as responses to Canada’s imposition of a 100 per cent tariff on China-made electric vehicles.
“Our role is to ensure our customers, and the broader industry, have access to the capital and flexibility they need to adapt, stay competitive and keep delivering high-quality products to markets at home and abroad,” said FCC’s chief executive officer Justine Hendricks.
The FCC said existing customers may defer principal payments for up to 12 months.
