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Canada expands farm credit program to help farmers cope with rising costs from global market shocks, including fertilizer price spikes due to Strait of Hormuz closure.
Canada is expanding its Farm Credit Canada program to help farmers and agribusinesses manage rising input costs, offering credit lines up to C$500,000, loan term adjustments, and deferred payments.
The move, part of an updated Trade Disruption Customer Support Program, now covers financial strain from unexpected market shocks, including global fertilizer price spikes caused by the closure of the Strait of Hormuz due to conflict in Iran.
The aid aims to support agricultural operations during the critical spring planting season.
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Canadá expande el programa de crédito agrícola para ayudar a los agricultores a hacer frente a los crecientes costos de los shocks del mercado mundial, incluidos los aumentos en los precios de los fertilizantes debido al cierre del Estrecho de Ormuz.