January 28, 2008

Canada's New Brunswick province grant $3 million loan to pig producers
 

Canada's troubled pig industry is relieved with the $3 million loan program in place to ease problems.

The industry is currently having a handful; there is an appreciation of the Canadian dollar, a dip in pig prices, and a sharp increase of feed grain and fuel costs.

The loan will bridge producer prices up to $1.60 per kg and will cover the liquidity problems carried over from last year.

According to the government, $2.2 million will be available to producers this fiscal year and the remaining $800,000 will be available in 2008-2009.