Agriculture and Forestry Minister Eric Hammill today released further details of the Department of Agriculture and Forestry's budget for the coming year. The total budget has been increased by $1.2 million over the previous year to $22.4 million, and will provide for a number of new and expanded programs.
"This is the third year in a row for an increase in the budget of my department," said Mr. Hammill. "That demonstrates the commitment of this government to the continued growth, development and diversification of the agriculture, food and forest industries."
The budget provides support for the Food Strategy, along with a number of new initiatives including a $1.0 million seed potato development program; a program to encourage organic and low input agriculture; continued support for the Maritime beef initiative, along with new incentives to promote quality standards; continuation of the soil quality monitoring program; ongoing support for the Swine Research Chair at the Atlantic Veterinary College; and new programs to support expansion of the apple industry and increase the number of hives used for pollination in blueberry and horticultural crops.
The department also expects to receive an additional $1.0 million to continue the Agriculture and Environmental Resources Conservation program.
Mr. Hammill said forecasted expenditures for the current fiscal year are higher than originally budgeted. Those expenditures included additional funding to the Grain Elevators Corporation, establishment of the new Agriculture and Environmental Resources Conservation program, settlement of the Edwin Lewis case and higher than forecasted expenditures for agricultural safety nets, including the national Agriculture Income Disaster Assistance program. These increases in expenditure are $3.8 million.
"As minister, I am very pleased that this budget will enable the department to address a number of critical issues in the agriculture industry and provide support for a number of exciting new initiatives in the agri-food sector," said Mr. Hammill.
The agri-food industry accounts for upwards of 15 percent of Prince Edward Island's Gross Provincial Product. Last year, total farm cash receipts hit an all-time high of $346 million.