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New Session Added to 2010 Banff Pork Programme

by 5m Editor
15 January 2010, at 1:13pm

CANADA - A new break-out session on 'Government of Canada assistance to the hog industry' has been added to the Wednesday afternoon agenda of the 2010 Banff Pork Seminar (BPS 2010). Producers will hear how two federal government programmes will be implemented for the benefit of Canadian pork producers.

The Hog Industry Loan Loss Reserve Program was established to assist viable hog operations with their short term liquidity pressures by having the Government of Canada share the risk with financial institutions of consolidating short term debt into long term loans, up to a maximum of 15 years.

The Hog Farm Transition Program assists the hog sector to transition to new market realities by providing compensation of up to a maximum of C$75 million to hog producers who wish to stop producing hogs for a minimum of three years. Producers who wish to cease production can tender bids for compensation from the program based on the amount of dollars they would accept to cease their hog production for at least three years.

Speakers addressing the topic will include Martin Crevier (Financial Guarantee Programs Divisions, Agriculture and Agri-Food Canada), Katia Courie (Financial Guarantee Programs Divisions, Agriculture and Agri-Food Canada) Herman Simons (Chair of Alberta Pork and Edulia Farms Ltd) and Eric Olsen (Meyers Norris Penny).

A panel discussion will follow that will include evaluation of how these programmes are working from the producer's point of view and from the standpoint of a financial specialist with experience with the programs.

Anyone who has already registered for BPS 2010 and wishes to attend this new breakout session, can email BPS and have their registration amended. A full listing of breakout sessions offered at the 2010 Banff Pork Seminar is available by clicking here.