The federal government has extended the deadline for repayment of cash advances for durum growers and certified organic farmers who were unable to sell their crop last year.Agriculture and Canadian Wheat Board minister Gerry Ritz announced today a “stay of default” on repayment until April 30, 2011 for producers who received an advance through the board.The government implemented the stay in response to a request from the wheat board.”We’re providing a stay so that farmers have more opportunity to receive a fair price for their yields,” Ritz said in a press release.Without a stay, producers would have faced the prospect of repaying advances this fall, creating cash-flow problems.The stay came into effect Oct. 1, 2010. The government will continue to pay interest on the interest-free portion of farmers’ outstanding advances until April 30, 2011.
Durum, organic farmers given more time to repay cash advances
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