Financial support for struggling B.C. fruit farmers on its way as grower co-op files for creditor protection
Global News
The province will enhance its AgriStability program to raise the AgriStability compensation rate to 90 per cent and double the compensation cap for farmers for the program year.
The province has come to the table with support for farmers in the wake of the devastating closure of the BC Tree Fruits Cooperative, which is now applying for creditor protection.
“This has been a challenging time for farmers, including B.C. fruit growers. Our government has been listening to them. What we are hearing is everyone is facing different challenges, but the common denominator is that farmers need help now with their bottom line,” Pam Alexis, minister of agriculture and food, said in a Tuesday press conference.
“Today’s announcement reflects both short-term support with more money available to farmers through AgriStability payments and longer-term support with a new climate resiliency program so growers can plan and ensure there is a sustainable supply of B.C. cherries, peaches, apples and other tree fruits in future years.”
The province will enhance its AgriStability program to raise the AgriStability compensation rate to 90 per cent and double the compensation cap for all farmers for the 2024 program year.
This will provide an estimated $15 million in immediate relief to farmers in need. This enhancement will help stabilize farm income and help farmers manage the increasing risk due to extreme weather. Late enrolment will also be available for producers not enrolled in the AgriStability program.
A new Tree Fruit Climate Resiliency program will provide $5 million to help tree-fruit farmers buy equipment and pursue projects that were not eligible under previous programs. This will strengthen farm resilience and preparedness for extreme weather.
This program will build on the successful extreme weather preparedness program and recognize climate-change events’ effect on the tree-fruit sector during the past few years.
“The BC Cherry Association is pleased with today’s announcement by the B.C. government,” BC Cherry Association president Sukhpaul Bal said.
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