GFO concerned about losses
Some groups are concerned that the federal funding announcement made Tuesday is too targeted.
In a release, Grain Farmers of Ontario stated the announcement leaves out too many groups that are suffering losses because of the COVID-19 pandemic, including Ontario gran farmers.
“Grain farmers in Ontario are facing an unprecedented $550 million in lost revenues. Over 67 percent of our farmer-members are worried about their farms‘ ability to survive this crisis and its aftermath,” said Markus Haerle, Chair of Grain Farmers of Ontario. “The federal government has ’targeted‘ groups without understanding the full picture. Our Prime Minister and his government are asking grain farmers to bear the costs of everyone having enough to eat.”
Grain Farmers of Ontario recently completed a survey of its farmer-members and preliminary results showed that 90 percent of those surveyed expect their net income will be reduced in 2020 and more than half are worried that they will not even be able to cover their 2020 planting costs. Closures and staff reductions at processing facilities have decreased demand for grain dramatically.
Grain Farmers of Ontario is estimating losses to net income of $135 per acre for corn and $20 per acre to net income for soybeans based on current prices. Additionally, grain farmers could see $550 million in total revenue loss if there is not a rebound to pre-COVID-19 levels in Future Prices.
The survey was conducted the last week of April 2020 and results reported are preliminary.