McCain Foods’s goal is to implement regenerative agricultural practices across 100% of its contract potato acreage worldwide by 2030. That said, the transition to more sustainable farming practices often requires up-front investments in new equipment and practices from farmers. 

Partering with Farm Credit Canada (FCC), the company is offering financial incentives to McCain potato farmers who are at the onboarding level or higher on McCain’s Regenerative Agriculture Framework. It uses a combination of funds from FCC’s Sustainability Incentive Program and McCain to issue an annual incentive to farmers for the life of the program. 

Through its Sustainability Incentive Program, FCC customers who are McCain suppliers are eligible to receive an incentive payment for their farm sustainability efforts. The calculation will be based on a portion of their total owing for eligible lending with FCC to a maximum payment of $2,000 a year. Participating McCain potato growers will also receive free access to FCC AgExpert farm management software for a year.

Through this offer, McCain will add to the FCC incentive paid to its potato farmers, based on where the farmers are in their journey on McCain’s Regenerative Agricultural Framework. Farmers at the “Onboarding” level of the Framework will receive matching funds. For farmers at the “Beginner” level, McCain will match $2 for every dollar received from FCC. The incentive from McCain increases as farmers progress through the framework to the Master and Expert levels. The incentive offered at these levels is roughly equal to interest-free financing (assuming up to $400,000 at 4%) to a maximum payment of $14,000 from McCain and $2,000 from FCC.

“We are excited to see this new offer between McCain and FCC that rewards Canadian potato growers for their sustainable practices and provides an incentive to advance,” says Matt Hemphill, executive director of New Brunswick Potatoes. “The ability for expert and master regenerative farmers to receive a significant incentive reduces barriers to farm investment in an era of rising rates, increasing complexity, and escalating climate variability.”

To ensure that regenerative agriculture is both feasible and economically viable for farmers, McCain is testing its practices and principles and experimenting with new equipment and technology with its Farms of the Future project, the first of which is located in McCain’s hometown of Florenceville, New Brunswick.

For more information FCC’s Sustainability Incentive Program link here at fcc.ca/sustainabilityprograms. 

Source: McCain Foods November 1, 2022 news release