Canada Wednesday announced more assistance to farmers amid its own trade woes with China. The announcement provides additional credit to producers through the Advance Payments Program, expanding available credit to C$1 million and providing up to C$500,000 interest-free for canola production. China has blocked imports of Canadian canola seed from two companies because China “discovered pests” in shipments. While technical discussions have taken place between the Chinese and Canadian governments, the scientific basis for China’s actions remains unclear, according to the Canola Council of Canada. China has been a major market for Canadian canola, accounting for approximately 40 percent of all canola seed, oil and meal exports. Canola seed exports to China were worth C$2.7 billion in 2018, and demand has been very strong until recent disruptions. Canada’s Trade Minister Jim Carr also announced planned trade missions to boost exports in Japan and South Korea of Canadian Canola. The Canola Council says it’s an “ideal time” to “seize the opportunity to develop markets.”
From the National Association of Farm Broadcasting.