AAFC invests $292.5 million in Supply Management Processing Investment Fund
March 10, 2022 by Bree Rody
Agriculture and Agri-Food Canada (AAFC) has launched the Supply Management Processing Investment Fund worth $292.5 million, in order to help processors of supply-managed commodities increase their competitiveness in the face of evolving markets. The fund is part of the Government of Canada’s larger commitment to support processors and address the impacts of international trade agreements.
Processors of supply-managed commodities will have access to funding to improve their productivity through investments in new automated equipment and technology. The fund leverages private investment in processing plants to accelerate adoption of automation to lower processing costs, address labour shortages and enhance product quality.
The agreement would specifically affect dairy, egg, poultry and meat producers. Michael Barrett, chair of the Dairy Processors Association of Canada and Ian McFall, chair of the Canadian Poultry and Egg Processors Council, both expressed support for the new fund in a statement.
The two-step application process includes first submitting a Project Summary Form, which will help to determine a project’s eligibility and alignment with program criteria and priorities. Those successful at this stage will be invited to submit a full application.