Source: Dairy Farmers of Canada
Dairy Farmers of Canada (DFC) welcomes today’s Budget 2019 announcement, which contains a funding envelope of $3.9 billion to compensate Canada’s dairy, poultry, and egg sectors for the impact of concessions granted in the recent Comprehensive Economic and Trade Agreement (CETA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Of that amount, $2.15 billion would be available for income losses and another $1.5 billion for a Quota Value Guarantee Program.
“The federal government recognizes the impact of trade agreements on our sector and is following through on its commitment to support our domestic dairy industry,” says Pierre Lampron, DFC’s President of the Board of Directors.
The combined impact of concessions granted under CETA, CPTPP, and the Canada-United States-Mexico Agreement (CUSMA) represent annual losses of 8.4% of Canada’s milk production.
Today’s announcement focuses on the agreements that have been ratified. “We also welcome the government’s commitment to continue the dialogue on the future impact of CUSMA on our sector,” added Mr. Lampron.
Additional comments will follow once details of the announcement are provided.