Government Provides Additional Assistance to Farmers

AGRICULTURE/FISHERIES--Government Provides Additional Assistance to Farmers

The Nova Scotia government is investing close to $9 million to help farmers get through the BSE crisis and to deal with depressed hog markets. Chris d'Entremont, Minister of Agriculture and Fisheries, made the announcement today, Dec. 3, in Truro at the Nova Scotia Federation of Agriculture annual meeting.

"We are working to sustain the province's ruminant livestock industry and the hog sector," said Mr. d'Entremont. "Two broad challenges facing the industry currently are short-term cash flow and the long-term sustainability of the industry."

"Nova Scotia farmers have been going through difficult times and the industry will benefit from today's announcement," said Don Cox, president of the Nova Scotia Federation of Agriculture. "Mr. d'Entremont has been a strong supporter of the industry over the past year and has done a good job of bringing our concerns to government."

There are three components to today's announcement. First, government is providing $300,000 to cover the accrued interest costs on the first two years of the hog loan program. This will help the industry until prices improve for the sector.

The second part of the funding is the Nova Scotia Ruminant Income Support Program. It will provide in excess of $8 million in direct payments to producers to help them with the financial challenges resulting from the continued depressed market conditions as a result of BSE. Compensation will be paid on eligible beef and dairy cattle, sheep and goats.

In addition to these measures that address cash flow challenges for farmers, the province is also making $500,000 available to assist an industry-led strategy that supports the long-term sustainability of the province's livestock sector.

Information on the Ruminant Income Support Program is available at the department's programs and business risk management office in Truro at 1-866-844-4276 or on the website at www.gov.ns.ca/nsaf/prm .

The hog loan program will be carried out by Pork Nova Scotia.