News Releases
Cash advances released two months early
Feb. 01, 2012 -- ACC Farmers' Financial (ACC) announced yesterday that it will be releasing Advance Payments Program (APP) applications for crop inputs two months earlier than previous years.
"This early release will give growers the opportunity to complete the application when more time is available and will allow earlier approval and access to funds," stated Jaye Atkins, CEO ACC Farmers' Financial. Although advancement of funds occurs April 1, 2012, the earlier availability of applications allow producers to complete the forms and submit for pre-approval.
2011 advance rates have been used in order to achieve this earlier release of funds and growers are expected to use their 2011 production insurance figures when completing the application.
"There have been numerous changes in the Commodity Loan Program Application and the Advance Payments Program for the 2012 year to simplify the loan application process," stated Atkins. An example of this is that as of October 2011, applicants are no longer required to have their financial institution complete the Priority Agreement found within all APP applications when there are no liens registered against their agricultural products.
ACC is a nationally appointed administrator of Agriculture and Agri-Food Canada's Advance Payments Program (APP). The APP program was designed to help growers with their production period and give easier access to cash advances for crops they are planting during the program year. The first $100,000 is interest-free with an additional $300,000 available at prime rate.
For more information please visit the Ontario Farmer Website.
Seed-applied nutrient approved for wheat, oats, ba
Feb. 01, 2012 -- The Canadian Food Inspection Agency (CFIA) has approved a new, liquid formulation, nutrient seed treatment for use on wheat, oats, barley and corn. Awaken ST is manufactured by Loveland Products and available from UAP Canada Inc., as part of its Nutritionals portfolio of products. Awaken ST is a patented, seed-applied nutrient, with a micronutrient package including 5% zinc plus boron, copper, iron, manganese and molybdenum.
“Awaken ST puts nutrients where a germinating plant needs them – on the seed,” says Eric Gregory, product manager with UAP Canada Inc., based in Oak Bluff, Manitoba. “It’s a unique, nutrient-based product that helps develop a larger, more extensive root system, quicker emergence, greater plant biomass and improved plant health and vigour. All of this supports the goals of progressive growers in pursuit of maximum yield and return on their crop inputs investment.”
Unlike other registered seed-applied nutrients, Awaken ST comes in an easy flowing liquid formulation that can be applied using traditional seed treating equipment. According to Loveland Canada general manager, Jeff Crampton, “Awaken ST can be applied on its own, blended or applied sequentially with traditional chemical-based fungicide or insecticide seed treatments.”
Research on Awaken ST from North Dakota State University has demonstrated a significant increase in plant emergence and an 8 percent-plus yield increase when compared to untreated seed.*
For more information please visit the Ontario Farmer Website.
Pork board challenges interest rates
Feb. 01, 2012 -- By Jim Romahn - The Ontario Pork marketing board is challenging lenders, including Farm Credit Canada, to lower interest rates on loans to hog farmers to the same level as loans to other farmers.
Doug Ahrens, director from Perth County, says “it’s not fair” that hog farmers are being charged about 2.5 per cent more than others, including highly-leveraged dairy farmers.
The interest rate challenge is one of about five goals the directors have set as their highest priority issues for this year, Ahrens told the annual meeting of the Waterloo Pork Producers Association held recently at Linwood.
He said in conversation with a reporter that Farm Credit Canada is making loans to dairy farmers on the basis of cash flow, not assets such as land, quota and buildings.
The assets are, however, usually pledged as security.
For more information please visit the Ontario Farmer Website.
Economists predict some food price relief in 2012
Feb. 01, 2012 -- Canadians will get a small break at the supermarket in 2012, as food prices will increase only marginally in the coming year, according to a forecast by two University of Guelph professors.
However, they predict that unstable economic conditions will continue to affect the food industry, with restaurants, food banks and specialty industries looking for ways to reduce waste and improve sustainability.
“The last few years have been challenging for Canadians with less means,” said Prof. Sylvain Charlebois, associate dean of research and graduate studies in Guelph’s College of Management and Economics. He wrote the 2012 Food Price Index forecast with U of G economics professor Francis Tapon. “Expected food price relief may come as good news for these families in 2012.”
The economists predict that general food prices will increase by no more than two per cent on average. They expect an increase in meat prices of about three per cent; fresh vegetables, one to three per cent; baked goods, three per cent; and restaurant meals, two per cent.
The anticipated price increases are much more modest than those experienced this year. In 2011, dairy and eggs prices went up 11 per cent in 2011; fresh vegetables, 10 per cent; baked goods, seven per cent; fresh fruit, six per cent; and meat, five per cent.
The U of G professors had predicted an overall increase of about five to seven per cent for this past year.
Tapon said, “We saw significant increases in retail prices, primarily because input prices went up significantly.
“For 2012, it’s expected that input prices won’t have as much of an impact as they did in 2011.”
The researchers expect that competition in Canadian food retailing – specifically the arrival in Canada of Target stores – will help keep down food prices next year.
Charlebois said that “retail price hikes over the past year have induced Canadians to rethink their attitude towards food in general.”
Consumers have been buying foods more tactically, eating out less and limiting purchases of premium food products such as organically grown and fair trade. This pattern is expected to continue in 2012.
The economists base their predictions on factors including climate, economic risks, energy costs, currencies and trade, and Canada’s food distribution and retail landscape. They also consider domestic fundamentals such as consumer debt and inflation.
Of these, the economy and climate are the most concerning.
“We cannot remember a period with so much uncertainty in economic outlook and no obvious easy way out,” Tapon said. “Food prices will reflect this uncertainty.”
For example, European financial instability will continue to affect both retail food prices in Canada and import prices for Canadian food importers.
Climate is the most unpredictable economic driver of food prices.
“It’s an important factor,” said Charlebois, an expert in food distribution and safety. “Every year, the global agricultural economy witnesses the impact of climate change. Productivity and yields are affected by weather constantly, whether regional or beyond.”
For more information please check out the Ontario Farmer Website.
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