Regina-based Farm Credit Canada is offering support to farmers in Prince Edward Island who could be facing cash flow challenges following a ban on PEI spuds to the U.S.
All shipments of potatoes from PEI to the U.S. have been suspended after the discovery of a fungus, potato wart, on two PEI farms.
FCC says if the ban persists, many farmers could face cash flow problems as well as storage and transportation challenges.
The agency says it is ready to offer support and find solutions.
The North American potato market is highly integrated as Canada and the U.S. are major trade partners for potatoes and potato products.
The agency will consider additional short-term credit options, deferral of principle payments and other loan payment schedule options.
These are similar offers made by FCC this summer to drought-stricken prairie farmers and this fall to flood-ravaged farmers in B.C.
FCC is Canada’s leading farm lender, with a loan portfolio of more than 41 billion dollars.
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