The Dairy Farmers of Canada initial reaction to the 2019 budget is a positive one.
The budget contains a funding envelope of $3.9 billion to compensate Canada's dairy, poultry, and egg sectors for the impact of concessions granted in the recent Comprehensive Economic and Trade Agreement, CETA, and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, CPTPP.
Of that amount, $2.15 billion would be available for income losses and another $1.5 billion for a Quota Value Guarantee Program.
Pierre Lampron is the President of the Board of Directors for the DFC.
"The federal government recognizes the impact of trade agreements on our sector and is following through on its commitment to support our domestic dairy industry," stated Lampron in a news release.
The combined impact of concessions granted under CETA, CPTPP, and the Canada-United States-Mexico Agreement (CUSMA) represent annual losses of 8.4% of Canada's milk production.
The announcement focuses on the agreements that have been ratified.
The DFC says additional comments will follow once details of the announcement are provided.
