In British Columbia, the recent winter brought unusually cold temperatures that severely damaged wine and fruit crops, notably affecting peaches, plums, nectarines, and especially wine grapes. With the 2024 wine vintage expected to be nonexistent and cherry production anticipated to drop by 75%, local producers are facing significant challenges.
Farm Credit Canada (FCC) has stepped in to offer crucial support to those impacted. Acknowledging the unpredictability and hardship faced in agriculture and food production, FCC is ready to assist with financial relief options. This includes offering short-term credit, deferring principal payments, or modifying loan schedules to ease the burden on producers.
Glen Lucas of the BC Fruit Growers’ Association noted that while tree fruits saw less damage, the wine industry is particularly hard hit, with many vines unlikely to survive the cold. Replanting vines takes time, and the loss of an entire season's vintage is a severe blow.
“Areas close to lakes had more moderate temperatures, but overall, the cherry crop is expected to be down about 75 per cent,” said Glen Lucas, general manager of the BC Fruit Growers’ Association.
However, FCC's commitment to the agricultural community will hopefully support them through these tough times. With flexible financing solutions and a personalized approach to each farm's needs, FCC aims to help producers navigate through the aftermath of the cold snap and plan for future success.
Producers affected by the cold weather are encouraged to reach out to their FCC relationship manager or contact the FCC Customer Service Centre for more information on available support options. As Canada's leading agriculture lender, FCC remains a steadfast partner in fostering the long-term success and resilience of the country's food producers.