Estrie region farm report
La Financière agricole du Québec has just released its 2011-2012 report on farming in the Estrie region. “Through its diverse interventions, La Financière agricole contributes to the economic development of Quebec and its regions, notably by assuring the financial stability of agricultural enterprises. With assured holdings of almost $4.8 billion and a portfolio of loan guarantees reaching $4.4 billion, the contribution of La Financière agricole to Quebec agriculture makes a difference,” commented Mr. Robert Keating, president/director general of La Financière agricole du Québec. Finance programs
There are 2,591 agricultural enterprises in the Estrie region. In total, loans made by La Financière agricole, for 2011-2012, amount to $63.3 million. Of this amount, 47 million went to dairy farms, maple syrup producers, beef and pork farms. Financing in forestry reached $5.2 million. Financial aid for replacement farmers La Financière agricole provided fianancial support to 32 young farmers in the region for their projects to start farming. That aid amounted to $690,000.
Added to this are special rates for some of the organizations other financial support programs. Insurance and revenue protection programs Insurance and revenue protection programs offered by La Financière agricole cover almost all risks faced by farming enterprises; $40.4 million was allocated to producers. More specifically, compensation totalling $30.2 million was accorded in stabilisation insurance (ASRA), principally in the beef and pork sectors. Interventions of the Agri-stabilité program came to $4 million. Furthermore, government contributions of $1.7 million from the Agri-investissement program and $3.6 million from the Agri-Québec program were given out. Enterprises insured with Programme d’assurance récolte (ASREC) received compensation of more than $866,000 dollars, mostly for field crops.