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New Cargill and Farm Credit Canada alliance to offer customers unique crop input financing
July 28, 2008
Français
REGINA, Saskatchewan– Cargill Limited (Cargill) and Farm Credit Canada (FCC) have entered into a unique national alliance to offer crop input financing to Cargill customers. Designed for growers producing and marketing grains, oilseeds and specialty crops, the new portfolio of products, marketed under the Performance Financing™ brand will be launched this fall.
“We are excited to work with Cargill to offer its Western Canada and Ontario customers tailored financing and access to additional agriculture expertise and management tools,” says FCC President and CEO Greg Stewart. “We share a passion for Canadian agriculture and a commitment to our customers’ success. Our common values make this partnership a great fit.”
Performance Financing will offer growers more control to manage price risk when buying crop inputs like fertilizer, crop protection products and seed. With an option to purchase crop inputs up to 18 months in advance of repayment, growers can monitor the market and lock in the best prices for their crop production needs. With the payment of input accounts aligned with cash flow from production, growers can choose the best time to market their crops.
Cargill Limited President Len Penner views the alliance as a better way to meet the needs of Cargill customers for tailored financing. “To compete in today’s sophisticated global marketplace, our customers need innovative approaches for doing business. By collaborating with Farm Credit Canada and our grower customers, we can offer financing options with more flexibility and access to the best crop input tools,” he says.
FCC will work with Cargill to develop a portfolio of customized financing solutions. “As the industry evolves, we are very pleased to be part of a collaborative network that involves producers and suppliers, creates positive results and contributes to the growth of Canadian agriculture, ” says Stewart.
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About Cargill Limited:
Cargill, which operates grain handling and crop input facilities across Ontario and the Prairies, works in partnership with producers to develop grain-marketing solutions. Headquartered in Winnipeg, Manitoba, Cargill Limited employs over 15,000 people across Canada and has business interests in meat, egg and oilseed processing, animal feed, salt, chocolate, natural gas, crop inputs, as well as grain handling, merchandising and milling. For more information, visit www.cargill.ca.
About Farm Credit Canada:
FCC is Canada’s largest provider of business and financial services to farms and agribusiness. Operating out of 100 offices located primarily in rural Canada, FCC’s 1,400 employees are passionate about the business of agriculture. A healthy portfolio of more than $15 billion and 15 consecutive years of portfolio growth are a reflection of our customers' success. For more information, visit www.fcc.ca.
Robert Meijer
Director, Public Affairs
Cargill Limited
Telephone: (204) 947-6370
robert_meijer@cargill.com
Claire Watson
Farm Credit Canada
306-780-3961
claire.watson@fcc-fac.ca
Éva Larouche
(bilingual) Farm Credit Canada
306-780-6647
eva.larouche@fcc-fac.ca
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