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BC government offers $4M in bridge financing to tree fruit growers

In the wake of the closure of BC Tree Fruits Cooperative, the British Columbia government is directing $4 million in bridge financing to growers.
In the wake of the closure of BC Tree Fruits Cooperative, the British Columbia government is directing $4 million in bridge financing to growers.

The British Columbia government is working with the Investment Agriculture Foundation of BC (IAF) to help tree fruit growers impacted by the July 26 closure of the BC Tree Fruit Cooperative. An estimated $4 million will be offered in bridge financing so that growers can be paid for past harvests without having to wait until the court process plays out.  

 

“These are very challenging times for B.C.’s tree-fruit growers and we are continuing to support them in getting their fruit to market as well as with cash in their pockets now,” said Pam Alexis, BC Minister of Agriculture and Food. “Our priority from the beginning has been working with growers to ensure they are receiving as many of the services the co-op provided as possible, including food-safety certification, access to storage and bins, and connecting with packing houses. This is why we set up an emergency table with the sector to work together on solutions. We are monitoring the court process closely and will continue to support growers in finding alternative arrangements for their harvest.”

 

The IAF will assume the co-op members’ position as creditor and pay growers in the coming weeks. The IAF will then recoup funds at the end of the court process. The co-op will be reaching out directly to affected growers in the coming weeks to initiate the process.

 

Additionally, the BC government has provided $100,000 to the BC Fruit Growers’ Association to support food-safety certification previously done by the co-op. This was identified as a priority through the industry-led emergency table and is providing personalized assistance to the 179 apple-growing members of the co-op to ensure they maintain market access and optimize their harvest timing.

 

Source: BC Government September 12, 2024 news release

 

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Submitted by Karen Davidson on 13 September 2024