Minister Announces Beef Interest Pay-Down Program
Beef producers will be better able to stabilize the long-term viability of their industry with a $2-million Nova Scotia Beef Interest Pay-Down Program, announced today, Jan. 18.
The program, delivered through the Nova Scotia Federation of Agriculture, provides assistance to Nova Scotia beef producers to pay down loan interest from 2009 to 2011. It will support the beef industry in the short term and provide funding to ensure producers remain viable.
"This program will address some of the current challenges facing beef producers, helping them move forward in their efforts to build a sustainable sector in Nova Scotia," said Agriculture Minister John MacDonell.
"Working with the Nova Scotia Federation of Agriculture and the Nova Scotia Cattle Producers since early last summer, I am confident that beef farmers will competitively position themselves in today's marketplace."
Cattle producers have expressed a need to make changes in the industry. This program is a starting point to reposition it by investing in a profitable and sustainable plan. Producers will have the flexibility to focus on parts of the industry that strengthens partnerships, alliances and collaborations. Individuals will also have opportunity to invest in their needs.
"Beef producers in Nova Scotia face serious short- and long-term challenges," said Dave Oulton, chair, Nova Scotia Cattle Producers. "Today's announcement ensures that some of the hardships faced by our farms, due to extremely low market conditions, can be addressed, and our board members will continue to be available to help clarify producer eligibility requirements and look forward to the quickest possible delivery of this necessary support."
"The federation recognizes this will be a significant investment in the Nova Scotia beef sector and will help producers with their goal of providing more high-quality beef for Nova Scotia consumers," said Richard Melvin, president, Nova Scotia Federation of Agriculture.
The deadline to submit the 2009 application is March 31. The deadline for the 2010 and 2011 claim forms will be March 31, 2011 and 2012, respectively.
To be eligible for the program beef, producers must meet specific criteria. For more details on the program, go to www.nsfa-fane.ca/programs_and_projects or call 902-893-2293.