Canadian farmers looking to take advantage of recent rains can start buying inputs for next year’s crop now and not pay until January 2004, with a financing programme offered by the Saskatchewan Wheat Pool (SWP), in partnership with Farm Credit Canada (FCC).
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The crop input loan programme, one of several in the Pool’s Farm Smart financing options package, was introduced in January of this year. It allows farmers to purchase crop inputs for next year’s crop any time after 1 September of this year, with the loan not due and payable until 31 January 2004.
“The rain we’ve seen in recent weeks has not only begun to renew soil moisture, it’s also boosted farmers’ optimism for next year’s crop,” Pool CEO Mayo Schmidt says. “The low-cost extended-term financing offered by FCC through this programme allows them to buy inputs for next year now and conserve their cash. It increases farmers’ flexibility and allows them to plan and schedule their payments around their cash flow cycle.”
Farmers who used the input-financing programme in the first year are now eligible to renew for the 2003 crop year. Renewal forms were mailed in early September and many farmers have already reapplied for next year.
Saskatchewan Wheat Pool is a publicly traded agribusiness headquartered in Regina, Saskatchewan.
