Farm Credit Canada (FCC) is stepping up efforts to support farmers, food processors, and agribusinesses as global trade disruptions — including a new Chinese anti-dumping duty on Canadian canola seed — continue to create uncertainty for the agriculture sector.
Through its Trade Disruption Customer Support program, FCC is offering financial relief aimed at easing cash flow pressures and helping producers remain competitive in turbulent markets, said an FCC release Tuesday.
“The agriculture and food industry is resilient, but global trade uncertainty can create real pressure on cash flow and operations,” Justine Hendricks, FCC President and CEO said in the release. “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.”
Originally announced by FCC back in early March, the Trade Disruption Customer Support program includes a range of measures, such as an additional line of credit of up to $500,000, new term loans, and the option for existing FCC clients to defer principal payments on current loans for up to 12 months. Both existing customers and new applicants who meet FCC lending requirements are eligible.
FCC said it will also continue to collaborate with industry partners to help producers and food businesses manage changing market conditions.
In a ruling last week, China’s Ministry of Commerce (MOFCOM) announced a 75.8% duty on imports of Canadian canola seed effective Aug. 14. The duty will remain in place pending a final decision in September.
China is Canada’s second-largest market for canola and related products, with exports valued at $4.9 billion in 2024. If upheld, the preliminary duty will make Canadian canola commercially unviable in China, which sources nearly all of its imports from Canada.
The dispute is the latest flare-up in Canada–China trade relations, which have been strained since Canada imposed tariffs on Chinese EVs, steel and aluminum in August 2024. In March, China slapped 100% tariffs on imports of Canadian canola meal and oil.
Farmers and agribusiness operators affected by trade challenges are encouraged to reach out to their local FCC office or call 1-800-387-3232 to discuss their individual circumstances.
Lending due diligence will be carried out on all applications, the FCC statement said.
