(Government of Saskatchewan/Submitted)

By CKOM News

Agriculture funding

Feds, province invest $485M in agricultural sector

Mar 20, 2023 | 10:38 AM

Saskatchewan’s agricultural sector is getting additional support from the federal and provincial governments.

On Monday, the governments announced $485 million for what is called “strategic agricultural initiatives” in the province under a new five-year Sustainable Canadian Agricultural Partnership (CAP).

“Through the Sustainable Canadian Agricultural Partnership, we are investing in the economic, social and environmental sustainability of the agriculture sector, while ensuring the resilience of supply chains,” Gudie Hutchings, the federal minister of rural economic development, said in a media release.

“These programs and initiatives will create new ways for producers in Saskatchewan and processors to continue to improve their competitiveness while protecting our environment.”

“The Sustainable Canadian Agricultural Partnership will help build on the great work already happening in the agriculture industry in Saskatchewan,” Saskatchewan Agriculture Minister David Marit added. “This investment will see enhancements to existing programs and the introduction of new programs to position us to continue on our sustainability journey, while ensuring the sector continues to grow, prosper, and remain competitive.”

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The Sustainable CAP is a five-year $3.5-billion investment by the federal and provincial governments. It includes $1 billion in federal programs and activities and $2.5 billion in cost-shared programs and activities by the two levels of government.

The program includes $89.4 million annually in strategic programming for Saskatchewan farmers, ranchers and agri-businesses, up from $71.2 million in the previous federal-provincial partnership.

“Under the new agreement, there is a continued focus on agricultural research and increased support for water development, with an increased funding cap in the Farm and Ranch Water Infrastructure Program and a larger per-acre payment under the Irrigation Development Program,” the release said.

Under the deal: $176.6 million will be invested to build capacity in the agriculture sector; $53.4 million will go to support the long-term resiliency and sustainability of the sector; $40.2 million will go to support the sustainability of the sector by anticipating, mitigating and responding to risks while building public trust; $2 million will be invested to help the industry expand domestic and international trade opportunities; and, $175 million will be invested in research and development.

As well, $37.8 million will be used to support programs delivered by the federal government, including AgriMarketing and AgriAssurance.

There also will be offerings of more business risk management (BRM) programs to help producers manage risks that threaten the viability of their farms.

The Sustainable CAP is to go into effect on April 1.