Detail

Canada

Oilseeds, oils and meals

Rapeseed

01/05/2019

Production

Production support (trade mitigation measures)

Offered financial assistance to rapeseed farmers affected by China’s recent decision to suspend the import permits of selected Canadian rapeseed suppliers. More specifically, the amount of federal loans available to all farmers would be raised, while, for rapeseed growers, the interest-free portion of such loans would be increased, and the application deadline for a federal income stabilization programme would be extended. Also promised to support efforts by the rapeseed sector to diversify into export markets other than China.

The Government informed that it would offer financial assistance to rapeseed farmers affected by China’s recent decision to suspend the import permits of selected Canadian rapeseed suppliers. More specifically, for 2019, the Government plans to raise the maximum amount of federal loans available to individual farmers from CAD 400 000 (USD 299 000) to CAD 1 million (USD 747 000), while, for rapeseed growers, the interest-free portion of such loans would be increased to CAD 500 000 (USD 373 000), compared to CAD 100 000 (USD 75 000) at present. Furthermore, the application deadline for a federal income stabilization programme would be extended by two months. The Government will also support efforts to diversify into other export markets – given that, currently, about 40 percent of the country’s exports of rapeseed, oil and meal are destined to China. In particular, Canada’s Trade Ministry intends to launch trade promotion missions to Japan and the Republic of Korea. Meanwhile, based on a recent official survey, Canada’s rapeseed plantings could drop to a 3-year low this season – in part fuelled by farmer concerns over export prospects.