Released on April 3, 2007
Saskatchewan Agriculture and Food will spend $1 million to support companies exporting organic and “natural” branded agricultural products.
The Department’s investment will be provided to the nextrade™ program administered by the Saskatchewan Trade and Export Partnership (STEP) – an initiative that provides customized, affordable export financing for small and medium-sized exporters in Saskatchewan.
“The nextrade™ program is extremely popular,” Agriculture and Food Minister Mark Wartman said. “We wanted to ensure that STEP has the resources it needs to continue to meet the demands of our growing organic sector, both now and into the future. Increased economic development provides more opportunities for Saskatchewan families and youth.”
STEP established nextrade™ finance in 2004 to allow small companies to accept an export order, purchase the required inputs, package it, ship it and extend favourable credit terms.
“This program allows companies to enter new markets in a sustainable way, while at the same time minimizing risk,” STEP president and CEO Dale Botting said. “We had so much demand for nextrade™ that our existing capital pool was completely used up. These new funds allow us to address the needs that are still out there.”
Agricultural commodities and agri-value sectors account for over half of the value of all transactions under the program. The organic sector accounts for 90 per cent of the program’s transactions in the agricultural commodity sector.
“Saskatchewan accounts for more than half of the organic grains and oilseeds grown in Canada, and is already a leading Canadian exporter of organic grain and oilseed products and food ingredients,” Legislative Secretary on Organics Lon Borgerson said. “We need to invest in marketing what we produce if we hope to remain competitive.”
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For more information, contact:
Scott Brown
Agriculture and Food
Regina
Phone: 306-787-4031
Email: sbrown@agr.gov.sk.ca
Glen Millard
Saskatchewan Trade and Export Partnership
Regina
Phone: 306-529-7252