The Government of Canada will provide $ 2.15 billion to help farmers who are losing revenue through trade agreements with Europe and the Pacific to facilitate the entry of foreign egg, dairy, and poultry producers into the Canadian markets.
This is in addition to the five-year fund, worth $ 250 million, created in 2016 to compensate losses to Canadian dairy farmers for a deal with the European Union.
The budget provides for the allocation of $ 1.5 billion to farmers who lose money by selling their production rights in a supply management system that restricts the production of eggs, poultry and dairy products in Canada. To qualify for the sale of supply-driven products, farmers must buy a “quota”, often from existing producers who want to leave the industry.
“To ensure that Canadian dairy, poultry and egg farmers can continue to provide Canadians with high-quality products in a world of freer trade, we will provide farmers with a revenue protection program and take steps to protect the quota value that these farmers have exhausted.” - Canadian Finance Minister Bill Morneau said in a statement on the budget.
