September 5, 2025
RED FM News Desk
Prime Minister Mark Carney has announced a new $370 million production incentive aimed at supporting Canada’s canola producers, as the sector faces mounting pressure from international trade disputes.
The federal government says the biofuel production incentive is designed to tackle “immediate competitiveness challenges” after China imposed a steep 75.8 per cent tariff on Canadian canola seed last month. The move is widely seen as retaliation for Canada’s 100 per cent tariff on Chinese electric vehicles.
In addition to the new incentive, Carney says the government will amend its Clean Fuel Regulations to further bolster the domestic biofuels industry.
Other measures include a temporary increase in interest-free advance payments available to producers and expanded funding to help farmers diversify into new export markets.
The canola support package was introduced as part of a broader set of initiatives aimed at assisting industries most affected by recent U.S. tariffs.
Loading ...
