Home Payment processors Third round of compensation available to Canadian dairy farmers

Third round of compensation available to Canadian dairy farmers

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The owner of a farm with 80 dairy cows will receive compensation in the form of a direct payment of approximately CA $ 38,000 (US $ 29,600) each year.

Agriculture and Agri-Food Canada has mailed letters to all eligible dairy farmers with instructions on how to access the payment. Based on their milk quota, dairy farmers will receive compensation payments totaling up to C $ 469 million (US $ 366 million) for this fiscal year. To receive their payment, producers must register with the Canadian Dairy Commission by March 31, 2022. Another CDN $ 468 million (US $ 365 million) will be available in 2022-2023.

The Government of Canada has stated that it has committed to disburse C $ 1.75 billion (US $ 1.36 billion) to dairy farmers for market access concessions granted under the Agreement. Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union and the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP). Payments are made on an accelerated schedule of four years instead of eight, with all payments due by 2023.

To help processors of all supply managed agricultural products adjust to CETA and CPTPP, Budget 2021 proposed an additional C $ 292.5 million ($ 228 million Americans) for an investment fund for processors to support private investment in processing plants. Further details on the program should be available in the coming months.

Over the next year, the Government of Canada has declared that it is committed to working with sectors subject to supply management to determine full and fair compensation for the impacts of the Canada-State Agreement. United Mexico (ACEUM).

Under the Dairy Direct Payments Program, dairy producers will receive up to C $ 1.75 billion in direct payments over a four-year period. Payments are made by the Canadian Dairy Commission (CDC). Up to C $ 345 million (US $ 269 million) and C $ 468 million (C $ 365 million) in direct payments were made available in 2019-2020 and 2020-2021, respectively.