André Lamontagne, Minister of Agriculture, Fisheries and Food (MAPAQ), was in Soulanges County on Thursday morning to announce over $200 million in support for agricultural businesses.

The Minister was accompanied by Soulanges MNA Marilyne Picard and Martin Caron, President of the Union des producteurs agricoles (UPA), for the announcement, which took place at Ferme Longprés / Moulin des Cèdres, in Les Cèdres.

These measures are aimed more specifically at businesses affected by unfavorable economic conditions, notably rising input costs and interest rates, and those affected by the difficult weather conditions of the 2023 season, as well as the next generation of farmers.

They also include regulatory and administrative relief measures, as well as significant support for adaptation to climate change. These measures illustrate the government's commitment to innovation in support of those who feed Quebec every day.

In all, some $200 million will be injected into various initiatives to support producers and farmers. 

"Today's announcement marks the culmination of a long process of analysis, discussion and consultation with the community, based on a situation that has evolved considerably in recent years. The announcement has three objectives: to protect the ability of businesses to cover their financial obligations and invest; to improve the business environment for agricultural businesses; to combat agricultural change; and to increase the resilience of the agricultural sector," emphasized Minister Lamontagne. 

Among the measures announced are the enhancement of the Fonds d'urgence, the injection of an additional $30 million into the Programme Investissement Croissance durable, rapid environmental relief and some $106 million to support agricultural businesses in combating and adapting to climate change.  

An initiative for the next generation

The next generation of farmers will benefit from the addition of some $37 million over the next two years to the Financière agricole's Programme de protection contre la hausse des taux d'intérêt - Sécuri-Taux Relève.

The Interest Rate Hike Protection Program (IRPP) - Succession Rate Protector reimburses young farmers, for a period of 5 years, 100% of the excess of an interest rate of 5%, 6% or 7%, depending on the level of recognized training.

For the coming year, from April 1, 2024 to March 31, 2026, the parameters of the PHTI will be modified to standardize the interest rate triggering protection at 4%, and to extend a company's eligibility for privileges beyond the five-year limit currently allowed. This will add $37.1 million to the amounts already budgeted. 

"Up to now, this support has been implemented according to producers' qualifications and education, and whether they are full-time or part-time. Today, we announce that for the next 2 years, the trigger rate for support will be 4%. It will apply to all new businesses, regardless of whether the owner is full-time or part-time, and regardless of his or her level of education," added the Minister. 

"Producers and the next generation of farmers are the main architects of the most important social project of all: sustainably feeding Quebecers. For generations, they have cultivated the land and inhabited the territory, contributing to Quebec's economic, social and cultural vitality. In this context, today's announcement is a significant recognition of their importance to the community, while marking a positive step forward in view of the many economic, climatic, administrative and regulatory challenges they face. The work isn't over, but we're open and optimistic," said Martin Caron, President of the UPA.