Federal government boosts loans for canola farmers amid tensions with China cdnpoli
The maximum loan limit through the program will be boosted to $1 million from $400,000, and the portion that will be interest-free is rising to $500,000 from $100,000, Agriculture Minister Marie-Claude Bibeau said on Parliament Hill Wednesday morning.
China imported $2.7 billion worth of Canadian canola seed last year, and any prolonged blockage will hurt farmers, the industry and the broader economy. The seeds are the raw input for canola oil, used in cooking and industry. Conservative Leader Andrew Scheer has called for the federal government to take a more confrontational approach with China.
Citing unproven concerns about pests, China has rejected Canadian canola seed shipments in recent months.
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