Canadian government raises borrowing limit to $500 million to aid dairy producers


Canada’s Parliament has officially adopted amendments from Prime Minister Justin Trudeau which raise the borrowing limit for the Canadian Dairy Commission from $300 million to $500 million.

Increasing the borrowing capacity of the Canadian Dairy Commission will allow it to purchase more butter and cheese from struggling farmers. Similar programs exist to help with surplus milk in Canada as well.

“The COVID-19 pandemic has caused significant fluctuations in the demand for many dairy products. Unfortunately, dairy farmers have had no choice but to discard some of their milk,” a news release from Agriculture and Agri-Food Canada said. “Stakeholders throughout the dairy industry supply chain are working closely with provincial marketing boards to ensure that Canadians continue to have access to a wide variety of dairy products, while implementing measures to temporarily reduce production.”