Federal agriculture minister Marie-Claude Bibeau has announced the fourth and final compensation payment to dairy producers.
The compensation payment covers the impact from the trade agreements with the European Union, and the Trans-Pacific partnership.
Dairy farmers will receive compensation based on their milk quota.
For example, the owner of an 80 head dairy farm will receive 38 thousand dollars in direct payment.
The compensation for this fourth round of payments totals up to 468 million dollars.
Producers must register through the Canadian Dairy Commission before the end of March.
The federal government recently announced compensation of up to 1.2 billion dollars over six years for the impacts of the Canada-U.S.-Mexico agreement.
As of 2024, the owner of a farm with 80 milking cows may receive compensation of about 106 thousand dollars in six yearly instalments on a declining scale.
These funds give producers the flexibility to invest according to individual needs.
Federal compensation support to the supply-managed sectors for the three trade deals will reach up to 4.8 billion dollars.
—-