New Brunswick cranberry growers hit by “volatile” markets for their wares have been granted an extension on paying back funds from their 2009 Advance Payments Program (APP).
Federal Agriculture Minister Gerry Ritz on Wednesday announced a stay of default on the repayment of APP advances until Dec. 31 for cranberry farmers in the province who got their 2009 advances by way of the Apple Growers of New Brunswick (AGNB).
The stay is effective retroactive to Friday (Oct. 1).
The AGNB asked for the stay to buy more time for cranberry growers facing “significant cash-flow pressures” to market their products, as they were otherwise facing large APP repayments due this fall, the government said.
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“Recent downturns in the market have been challenging for the industry and this stay will provide farmers with some flexibility in marketing their product,” Ritz said in a federal release.
“Not only will farmers have access to cash flow on their 2010 harvests, but they will be able to transfer their outstanding 2009 advances to the 2010 production period and avoid default.”
Cranberry growers who got their 2009 APP advances from the AGNB are eligible and should phone the AGNB for more details at 506-386-8100, the government said.
