Canada’s Maple Leaf Farms Will Receive A $6.5 Million Farm Reimbursement
Canada’s largest maple leaf farm has received $6 million in farm refunds from the federal government.
The Federal Government said on Thursday that the payments will be made by April 3.
The farm is in the Coquitlam area of British Columbia.
The payments are part of a $3 billion farm loan package announced by the Trudeau government last week.
The farm, known as the Golden Rose, has been in operation since 1872.
The largest farm in Canada, it is estimated to produce 1.2 million kg of maple leaf per year.
The Farm Credit Agency says it will provide the farm with $4 million in annual farm support, which is equivalent to a quarter of a cent of the value of its production.
“The farm was able to repay this loan in the fall of 2017 after receiving a loan from the Federal Government through the Farm Credit Agencies of Canada,” the agency said in a statement.
“Based on the amount of work we did on the farm, we have concluded that we were not able to meet our obligations to repay the loan.”
The Golden Rose has been operating for 25 years and produces more than 6 million kilograms of maple leaves each year.