Business & Policy
FCC supports customers impacted by rare June frost
By Top Crop Manager
Farm Credit Canada (FCC) is offering support for customers growing fruit and vegetables or operating wineries facing financial hardship as a result of recent widespread frost throughout all three Maritime provinces.
In the first week of June, temperatures dropped to as low as -3 C., causing varying degrees of damage to fruit and vegetable crops in Prince Edward Island, Nova Scotia and New Brunswick. As a result, many producers may experience lower yields, reduced revenues and, in some cases, face higher operating costs.
FCC’s support program will focus on customers in these three Maritime provinces.
FCC can offer the deferral of principal payments and/or other loan payment schedule amendments to reduce the financial pressure on producers caused by the late spring frost.
“Having farmed for many years, I know that things don’t always go to planned and the weather can have a serious impact on farm operations,” said Lawrence MacAulay, Minister of Agriculture and Agri-Food Canada. “This late frost has created a difficult situation for many fruit and vegetable farmers across New Brunswick, Prince Edward Island and Nova Scotia.”
Customers in the three impacted provinces are encouraged to contact their FCC relationship manager or the FCC Customer Service Centre at 1-888-332-3301 to discuss their individual situation and options.