New Loan Program to Support Hog Producers

The provincial government has established a new loan program to support hog producers who are experiencing difficulties because of depressed market conditions. The announcement was made today in the Legislature by Agriculture, Fisheries and Aquaculture Minister Jim Bagnall.

“The provincial government recognizes the importance of the hog industry to this province,” said Mr. Bagnall. “That is why I am pleased to announce today that the provincial government has agreed to provide a further loan program to producers to help them through this difficult time.”

The new loan program is retroactive to January 1 of this year. The program will make available $15 per hog for those marketed between January 1 and March 31. For the period April 1 to June 30, the payment will be $10 per hog. All hogs must be marketed through Garden Province Meats.

The loan program will be administered by the PEI Hog Commodity Marketing Board.

Mr. Bagnall said he recognizes the new loan program is not a long-term solution to the problems facing producers, and said he will continue to work closely with the industry to address long-term opportunities in the production, processing and marketing of pork products. The industry is currently focussed on finding a resolution to the future of Garden Province Meats.