One of the joint-venture owners of Winnipeg pea and canola protein processor Merit Functional Foods says it’s in talks to buy full control of the cash-strapped company. Two days after Merit entered a court-ordered receivership, Vancouver-based Burcon NutraScience announced Friday it “intends to submit a formal proposal to acquire the business.” Burcon said Merit’s receivership […] Read more
Tag Archives fcc — page 5
Merit Foods stakeholder looking to buy company
Burcon 'actively engaged' with company's receiver
EDC executive to lead Farm Credit Canada
Justine Hendricks to replace retiring Michael Hoffort
Canada’s federal farm lender is importing its next chief executive from Export Development Canada. Federal Agriculture Minister Marie-Claude Bibeau on Wednesday announced the appointment of Justine Hendricks, EDC’s senior vice-president and chief corporate sustainability officer since 2019, as FCC’s new CEO effective Jan. 30, 2023. As CEO, Hendricks replaces Michael Hoffort, an FCC staffer since […] Read more
Farm equipment demand to remain high, FCC says
Low inventories, high commodity prices and a good crop place pressure on demand
Demand for farm equipment should remain high through 2023 despite higher interest rates and projected price increases, according to Farm Credit Canada. The federal ag lender has released an outlook on the farm equipment market that analyzed data and trends that affect the market. While the outlook attributes much of the current demand to relatively […] Read more
Rate of rise in farmland value ‘surprised’ in 2021
Canada books 8.3 per cent year-over-year increase, FCC reports
MarketsFarm — Despite a year of economic uncertainty due to extreme weather, reduced crop yields and the COVID-19 pandemic, the value of Canadian farmland rose by its highest rate in four years, according to a report from Farm Credit Canada (FCC). FCC’s report, released Monday, revealed that the national average value of farmland increased by […] Read more
Farmland appreciation continues through pandemic year
FCC report puts Canada's average land value increase at 5.4 per cent
Economic churn across Canada from the global COVID-19 pandemic didn’t faze the country’s real estate market — nor its farmland market in particular — in 2020, according to the latest review from the federal farm lending agency. Farm Credit Canada on Monday released its 2020 Farmland Values report, showing an average increase of 5.4 per […] Read more
Suspended pulse crop handlers partly reinstated
Companies can't buy or receive more grain from growers
Three suspended pulse and special crop handling and processing companies are again licensed to move Canadian grain — but not to buy any. The Canadian Grain Commission announced Monday it has reinstated the licences for Globeways Canada Inc. and its subsidiaries: Canpulse Foods Ltd., a pulse and canary seed processor at Kindersley, Sask., and Global […] Read more
FCC identifies export, market opportunities for Canadian food
The ag lender's latest report highlights canola oil, pork, potato products, crab meat
Canada is already a major exporter of agricultural goods, food and beverages — but increasing food and beverage exports is still one of Canada’s biggest trade opportunities, Farm Credit Canada (FCC) says. And by diversifying exports, farmers will become less dependent on current major markets, reducing their financial risk. “When borders close for any number […] Read more
Canadian farmland trending less affordable in FCC report
Average values continue rising across board
The average value of farmland in Canada is continuing to rise faster than farmers’ ability to generate revenue from it, Farm Credit Canada’s latest Farmland Values Report suggests. The report, released Monday, shows the average value of Canadian farmland rose 5.2 per cent in 2019 over 2018, the smallest year-over-year increase since 2010, and down […] Read more
Tight supply chains pose food system risks with virus
Lack of redundancies in meat production system could post challenges
A lack of redundancies in agri-food system supply chains means there are risks for farmers from a disruption like that caused by COVID-19. Farm Credit Canada chief agricultural economist J.P. Gervais and Guelph-based economic researcher Al Mussell say, however, that the government knows how important food is to Canadians and will find ways to assure […] Read more
Cash advance repayment deadlines extended
FCC gets added capital to boost lending capacity
Canadian farmers who have repayment deadlines coming up on their cash advances between now and the end of April will get extra time to repay those loans. The federal government on Monday announced a stay of default on loans coming due on or before April 30 under the Advance Payments Program (APP), among other measures […] Read more
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