Farmscape for October 4, 2018
Farm Credit Canada is offering to support its hog-producing customers facing financial hardship as the result of international trade disputes.
Hog prices in Canada have declined by 30 per cent over the last several weeks due to a rising supply of pork in the U.S. and tariffs on U.S. pork exports applied by large pork importing countries.
John Geurtjens. the Vice-President for Ontario Operations with Farm Credit Canada, says FCC is confident in the hog sector here in Canada.
Clip-John Geurtjens-Farm Credit Canada:
To be clear we are just going to start with letters to customers that we think may want to talk to us, so a clear handout and an offer of assistance to talk.
Then we're going to look at what can we do to help the producers through this if they have difficulty with their payments.
We can do things like restructuring loans or we can do other things but it's always on a case by case basis.
It could be that some producers don't need that and wish to carry on with the current arrangements they have with their lender and with Farm Credit Canada and in other cases they're going to need some help.
We absolutely believe in the hog sector here in Canada.
There have been a lot of changes over the years in the hog industry and the producers we have today are by and large excellent managers and add a lot of value in the rural landscape.
I've been doing the job for a lot of years and I'm just so impressed with the level of management.
Having said that the dollars are bigger and the risks, things do change quickly and so people need to be right on the ball.
Geurtjens encourages customers to contact Farm Credit Canada directly.
He says those who are impacted will know their FCC contact and their local office.
For Farmscape.Ca, I'm Bruce Cochrane.
*Farmscape is a presentation of Sask Pork and Manitoba Pork